37signals, the makers of top-notch collaborative software like Basecamp, Backpack, Ta-Da List, Writeboard and Campfire, have just announced that they've taken an investment from Bezos Expeditions, a personal investment company belonging to Amazon founder Jeff Bezos.
The question is: why? Having made a handsome profit from ebook sales earlier this year, and having ownership of one of the largest Web 2.0 job boards - not to mention the revenues from the products themselves - it seems unlikely that they need the money. In fact, the 37signals brand is all about staying small and standing on your own two feet. Their motto is "less is more".
So it's pretty clear that this isn't about the cash: 37signals wants to tap into Bezo's experience and knowledge, helping to take the company to the next level. But they can't get access to that experience without offering some kind of incentive (ie. a stake in their future):
Since we launched Basecamp we’ve been contacted by nearly 30 different VC firms. We’ve never been interested in the typical traditional VC deal. With a few exceptions, all the VCs could offer us was cash and connections. We’re fine on both of those fronts. We don’t need their money to run the business and our little black book is full. We’re looking for something else.