Zappos Milestone: Timeline
Footwear News
- Monday, May 4, 2009Zappos Milestone: Timeline
by FN Staff
1999
- Founder Nick Swinmurn comes up with the idea to start an online shoe destination called ShoeSite.com.
- Swinmurn meets Tony Hsieh, a young entrepreneur who invests $500,000 in the company.
- In July, the name is changed to Zappos.com, after zapatos, which is Spanish for "shoes."
- Gross sales are minimal.
2000
- Hsieh, then running a venture capital firm called Venture Frogs, comes on board as co-CEO with Swinmurn.
- $1.6 million in gross sales.
2001
- $8.6 million in gross sales.
2002
- Zappos takes on its own inventory, opening a fulfillment center in Kentucky.
- $32 million in gross sales.
2003
- $70 million in gross sales.
2004
- Zappos moves from San Francisco to its
- current location in Henderson, Nev.
- Sequoia Capital invests in the site.
- The first Zappos outlet store opens in Kentucky.
- The company publishes its first "Culture Book," filled with employee contributions about the corporate culture.
- $184 million in gross sales.
2005
- Hsieh hires Venture Frogs co-founder Alfred Lin to be the e-tailer's CFO full-time.
- Sequoia provides a second round of investment, totaling $35 million altogether.
- Zappos offers its first quit-now bonuses ($100 at the time) to new hires who want to leave after training. It is now $2,000.
- Footwear News names Zappos E-tailer of the Year.
- $370 million in gross sales.
2006
- Swinmurn leaves the company.
- Zappos moves to a larger fulfillment center in Shepherdsville, Ky.
- $597 million in gross sales.
2007
- Zappos' Canadian site launches.
- The company acquires footwear and accessories e-tailer 6pm.com from eBags.com.
- New categories are added, including handbags, eyewear, clothing, kids' merchandise and watches.
- $840 million in gross sales.
2008
- $1 billion in gross sales.
- Zappos debuts first TV ad campaign, "Put a Little Zappos in Your Day."
- In July, the fulfillment center in Shepherdsville installs a new system using Kiva robots to help fill orders.
- In November, Zappos lays off 8 percent of its workforce.
- In December, the company launches
- ZapposInsights.com, a subscription service ($40 per month), where other businesses learn from its success and pose questions to current employees.
2009
- Zappos turns 10.
- In February, Fortune magazine ranks Zappos as No. 23 on its "100 Best Companies to Work For" list.
- Product-driven ads hit major cable networks.
