Zappos History

Zappos History - starting to think the company was over...

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Zappos History- Originally founded in San Francisco in August 1999 with Hsieh as co-CEO. Once Hsieh took over in 2000. October 2000 is again out of money so half the staff is laid off. August 2002 SF warehouse sold, new one opened in Kentucky. Sales rise to $32 million but no profit. March 2004 moves headquarters to Las Vegas to hire more experienced call-center workers. October sales finally rise and it allows them to make a capital investment. August 2005 Jeff Bezos of Amazon flies to offer to by Zappos for $370 million, but offer is rejected. December 2007 Zappos sells $100 million worth that month to end year with $840 million for first time profit. April 2009 Hsieh meets with Bezos and it is a positive meeting. Bezos agrees for Zappos to say independent company. By November 2009 Amazon has bought Zappos for $1.2 billion and keeps Hsieh as CEO at current salary of $36,000. Tony Hsieh – Invested $500,000 into Zappos and he is only starting out as co-CEO. By January 2000, after being rejected by VCs and employees
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Unformatted text preview: starting to think the company was over Hsieh took over as CEO and began to fund the company himself. He makes adjustment to company when laying people off and even adjust his salary to $24. He never makes a huge salary from Zappos but he is happy with it. Zappos (company structure) Emphasis on Customer Service- making them happy with free shipping and free returns for 365 days. As on full customer service through call-answering service who is trained to take the call without a script. runs off ten core values deliver WOW through service, embrace and drive change, create fun and a little weirdness, be adventurous, creative, and open-minded, pursue growth and learning, build open and honest relationships with communication, build a positive team and family spirit, do more with less, be passionate and determined, and be humble. (describing them should maybe be part of the body not intro??)...
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This note was uploaded on 09/05/2011 for the course BUS 3305 taught by Professor Ryan during the Spring '11 term at Texas Tech.

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Zappos History - starting to think the company was over...

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