Woot Founder And Pioneer Of The Daily Deal Leaves Amazon

Matt Rutledge, founder and CEO of Woot, and the grandfather of the daily deal, is stepping down from his position, two years after the website sold to Amazon.com. In an email sent to staffers, and subsequently posted to the community's website, Rutledge said that he was resigning his position effective June 15th to "move on to future projects with fewer acronyms." Woot was founded way back in 2004, and became a pioneer in the burgeoning "daily deals" market. It sought to give visitors one deal a day, posted to the website (like clockwork) at midnight. As the site grew and the deals improved, items regularly sold out just minutes after they were posted -- especially Woot's famous "bag of crap," which usually contained a hodgepodge of whatever leftover inventory and office supplies the team had lying around.

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