Zappos CEO Buys The Motel 6

Zappos CEO, Tony Hsieh purchased the Motel 6 on East Fremont for just $5.2 million. It is another step in the right direction for Zappos, as the real estate deal will pair nicely with their other real estate investment. This new acquisition will be part of the remaking of downtown Las Vegas that is underfoot, and hopefully this will attract a younger crowd, as well as younger talent.

The remaking of downtown Las Vegas is actually called the Downtown Project, and was founded by Zappos CEO, Tony Hsieh as well as other investors. Today, their efforts will be noticed, as they announce that they have entered a partnership with a company called Venture for America. Venture for America is a company that brings new college graduates to areas for two year stints, in which they get help with their start-up businesses. The idea is that the start-up business will be helped off the ground, and then the initial start up that takes place in downtown becomes permanent businesses.

Zach Ware, the campus/urban/start-up development leader at Zappos talked about the project, saying “There’s a good chance they’ll be inspired by the startup and want to stay with that business. It’s great exposure and experience for them.”

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