According to the San Francisco Business Times a report by PrivateEquityHub citing “two sources close to the company” claims that Zappos wanted to remain independent, but was forced to sell to Amazon by venture capitalists who had invested in the company.

According to the article, Zappos CEO Tony Hsieh (who wrote in an email to employees that he wished the headlines would read “Zappos and Amazon sitting in a tree…”) didn’t actually want to sit in a tree with anyone. In fact, he probably hates trees. Actually, that last part might not be so bad, considering the way Amazon must feel about them.

Report: VCs forced Zappos sale [Bizjournals]
(Photo:Gerardo)

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.