Zappos.com, popular US based e-trade web site, which focused only on shoes when it was first founded, then included various apparels and accessories to its scope, has been acquired by the world’s largest online store Amazon. Zappos made a difference in the sector with its customer relations concept which it placed particular importance on, and Amazon’s acquisition of Zappos for around $807m for its shares gave a relief not only to all of us, and to the industry.
We have been expecting a move in the VC world for a while, and we had been missing acquisitions of this size made by large enterprises like this. I can say that this acquisition made in the e-trade world is a reason to hope.
Zappos was a company that made customer satisfaction its top priority since its foundation day. Its popularity increased thanks to the asset and difference it made this way. Its venture backer was Sequoia Capital, which has funded for $62.2 m in total until today, and is YouTube’s first investor at the same time.
Besides the fact that the industry has started to feel some excitement with the acquisition and thinking that the market has started to be active again, I guess that Seqoia Capital, which meets the need for oxygen of entrepreneurs, is also glad about its recent move.