Apparently this is a good move. Zappos' interesting hiring practices were pretty interesting for me to read about.
There's a Bezos video that I liked, and a letter from the Zappos CEO to his team that I liked even more.
However, it was a great section at the end of the letter (pasted below), that sparked off a thought in my head. It surprising because its naturally funny, and consistent with the writer's style.
I'd heard a remark at work a little earlier in the week about having a sense of "whimsy" as you designed products and you go about your work. I think its done well really rarely, and as companies become larger, humor and whimsy (in communication and in product design) becomes either discouraged or something attempted to be done my committee (and hence not that funny.)
Q: I'm a business/financial reporter. Can you talk like a banker and use fancy-sounding language that we can print in a business publication?
Zappos is an online footwear category leader and Amazon believes Zappos is the right team with a unique culture, proven track record, and the experience to become a leading soft goods company; Zappos' customer service obsession reinforces Amazon’s mission to be the earth's most customer-centric company; Great brand, strong vendor relationships, broad selection, large active and repeat customer base; Amazon believes Zappos is a great business -- growing, profitable and positive cash flow; Accelerate combined companies' scale and growth trajectory in the shoe, apparel and accessories space; Significant synergy opportunities, including technology, marketing, and possible international expansion.
Q: What is the purchase price?
This is not a cash transaction. This is a stock exchange. Our shareholders and option holders will be issued approximately 10 million Amazon shares on a fully converted basis. The details of the deal terms and how the shares will be distributed will be filed with the SEC on Form S-4 and will be publicly available when it is filed.
Q: Can you talk like a lawyer now?
This email was sent on July 22, 2009. In connection with the proposed merger, Amazon.com will file a registration statement on Form S-4 with the Securities and Exchange Commission that will contain a consent solicitation/prospectus. Zappos' shareholders and investors are urged to carefully read the consent solicitation/prospectus when it becomes available and other relevant documents filed with the Securities and Exchange Commission regarding the proposed merger because they contain important information about Amazon.com, Zappos and the proposed merger. Shareholders and investors will be able to obtain the consent solicitation/prospectus when it becomes available at www.sec.gov or www.amazon.com/ir.
Certain statements contained in this email are not statements of historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect current expectations, are inherently uncertain and are subject to known and unknown risks, uncertainties and other factors. Factors that could cause future results to differ materially from expected results include those set forth in Amazon.com's Current Report on Form 8-K, dated July 22, 2009.
Q: Can you please stop?