Amazon Buys Zappos, CEO Eludes Media Coverage with YouTube Video

July 23, 2009 • Fashion

Jeffbezos CEO Jeff Bezos

It was announced yesterday that has finalized the sale of online shoe retailer for the price of $920 million, most of the amount in stock. The sale itself was not unusual, but the way that Amazon's CEO Jeff Bezos
chose to announce the purchase raised more than a couple of media
eyebrows. Namely, because Bezos left them out of the loop. The CEO
chose instead to make the announcement through a YouTube video
directed, not at the press, but at the employees of Zappos, as a sort
of personal and formal introduction. Now that the sale has been
finalized, Bezos declared that he did in fact want to keep the shoe
company's employees through the acquisition, but only after he held his
own kind of orientation. Through the video, Bezos runs through a sort of Amazon 101 crash course,
expounding on his company's history, management philosophy, and
importance of clientele.  By cutting out the press entirely, Bezos
allowed himself to touch on what he considered the crucial points of
the sale, instead of answering a slew of financial questions from reporters. But the news of the video hit Twitter soon after it
debuted and the shocked media promptly spread the word like wildfire.
As a result, Bezos' sneaky sidestepping move has now successfully gained more
media coverage than the actual sale itself. Check out the video here to see what all the hype is about! 

Article Source: gawker

Photo Source: businessnewsweekly

-Alia Rajput

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