Online Retail Website Ideeli Raises $12 Million
Ideeli is a flash sales website that has raised $12 million in funding, according to an SEC filing. The SEC filing has not revealed who the investors are, but we do know that the company has raised a total of $112 million. The company’s previous investors includes Credit Suisse, Next World Capital, Cue Ball Capital, StarVest Partners, Constellation Growth Capital and Kodiak Venture Partners.
Ideeli launched in 2007 and competes with other flash sales websites like Rue La La, HauteLook, and Gilt Groupe. Ideeli reportedly has over 5 million members.
Ideeli offers 50-70% discounts on clothing and other accessories over several days. Ideeli sells men’s clothing, women’s clothing, and children’s clothing. In 2011, Ideeli hit around $77.7 million in revenues.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry