February 25, 2021

INFRMER

KEEPING YOU INFRMED

Tony Hsieh, former CEO of Zappos who sold online shoe retailer to Amazon for $ 1.2B, dies at 46

Tony Hsieh, former CEO of Zappos who sold online shoe retailer to Amazon for $ 1.2B, dies at 46

 

Tony Hsieh, a revered internet entrepreneur who co-founded Zappos and sold the online retailer to Amazon for $ 1.2 billion, has passed away at the age of 46.

The Zappos.com homepage featured an image of Hsieh on Friday night and a letter posted by Zappos CEO Kedar Deshpande.

“It is with very heavy hearts that we are sharing some very sad news with all of you, as we have learned that Tony passed away earlier today (11-27-20),” Deshpande wrote. “Though Tony retired this past summer, we know what a tremendous impact he has had on both Zappos and on Zapponians, as he has dedicated the past 20 years focusing on the success of both the company and our employees.”

The cause of Hsieh’s death is unknown.

“We are deeply saddened to hear of Tony Hsieh’s untimely passing, and our thoughts are with his family and friends,” an Amazon spokesperson said in a statement to GeekWire. “Tony was a visionary leader and innovator who will be greatly missed.”

Hsieh led Zappos since its launch in 1999. The company struggled in its early days but Hsieh helped grow the company into an online shoe and apparel giant that sold to Amazon in 2009. Zappos became known for its unique culture, focus on the “science of happiness, ”and customer obsession – something that Amazon CEO Jeff Bezos admired.

“The world has lost a tremendous visionary and an incredible human being,” wrote Deshpande, a longtime Zappos employee who took over for Hsieh as CEO. “We recognize that not only have we lost our inspiring former leader, but many of you have also lost a mentor and a friend. Tony played such an integral part in helping create the thriving Zappos business we have today, along with his passion for helping to support and drive our company culture. ”

Hsieh stepped down as CEO this past August.

Amazon initially tried to buy Zappos in 2005, as Hsieh detailed in a 2010 article. Bezos and Hsieh started negotiations again in 2009 and agreed to an acquisition that would let Zappos continue operating independently.

Before launching Zappos, Hsieh started and sold an advertising startup called LinkExchange to Microsoft for $ 265 million.

Hsieh published a book in 2013 titled Delivering Happiness: A Path to Profits, Passion and Purpose that detailed lessons learned in life and business during his entrepreneurial journey. Hsieh was of the belief that corporate culture can help promote employee happiness.

“What’s interesting is research has actually shown that if employees are happier and customers are happier and there are strong company cultures, that that actually drives business results and those businesses tend to outperform their peers in the long run,” Hsieh said during an interview on The Colbert Report in 2011.

Hsieh also created a $ 350 million initiative in 2009 called the Las Vegas Downtown Project to help turn downtown Las Vegas into a hub for entrepreneurs and innovators.

Here’s the full letter from Deshpande:

It is with very heavy hearts that we are sharing some very sad news with all of you, as we have learned that Tony passed away earlier today (11-27-20). Though Tony retired this past summer, we know what a tremendous impact he has had on both Zappos and on Zapponians, as he has dedicated the past 20 years focusing on the success of both the company and our employees.

The world has lost a tremendous visionary and an incredible human being. We recognize that not only have we lost our inspiring former leader, but many of you have also lost a mentor and a friend. Tony played such an integral part in helping create the thriving Zappos business we have today, along with his passion for helping to support and drive our company culture.

Tony’s kindness and generosity touched the lives of everyone around him, as his mantra was of “Delivering Happiness” to others. His spirit will forever be a part of Zappos, and we will continue to honor his memory by dedicating ourselves to continuing the work he was so passionate about.

We will be working on ways to celebrate Tony’s extraordinary life in the coming days. In the meantime, we invite you to share your memories of the ways he brightened your life – you can send them to Celebrat[email protected] and we will share them with his family.

Our thoughts remain with him and his loved ones. Zappos is a family, and we will continue to hold Tony close in our hearts.

Sincerely,
Kedar Deshpande
Zappos CEO


www.geekwire.com