The team/person responsible for Woot sold it to Amazon, and then launched Meh the day their non-compete ended, along with a manifesto explaining how badly they thought Amazon had handled Woot.
I have no clue where I read it, that was back when meh.com launched eleven-ish years ago. I didn't find it in a hot minute of searching either. I did find these, some of which talk about the circumstances obliquely: