Tag Archives: Gilt Groupe Inc.
BuyWithMe In Negotiations For Acquisition and Lays Off More Than Half Of Their Staff
Gilt Groupe is rumored to be in the final stages to acquire daily deals service BuyWithMe. BuyWithMe laid off over half of their staff last week to attract potential buyers. Matrix Partners is an investor in BuyWithMe and Gilt Groupe. BuyWithMe is expected to be rolled into Gilt Groupe starting November 1st. BuyWithMe was considered to be the number three player in the daily deals market after Groupon and LivingSocial. BuyWithMe is expected to be rolled into Gilt City. [BetaBeat]
Categories BuyWithMe, BuyWithMe.com, Gilt Groupe, Gilt Groupe Inc., Matrix Partners
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Foursquare Making Deals with Daily Deals Companies
Foursquare has found a way to turn their gigantic userbase into real profit, partnering with companies like LivingSocial and Gilt Group to market local deals within the app. The Wall Street Journal reports that Foursquare is also in talks with Groupon for a similar arrangement. The move sounds genius, if it’s done right. Wouldn’t it be nice to check into your hotel on Foursquare and see an ad for a Groupon for a nearby restaurant?
Categories AT&T Inc., BuyWithMe, Foursquare, Gilt Groupe Inc., Groupon, LivingSocial, Zozi
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Peter Glusker Named CEO Of Gilt Groupe Japan
Peter Glusker has been named the CEO of Gilt Groupe Japan and Gilt City Japan. Gilt Groupe is an online luxury retailer company. Gilt Groupe launched in March 2009 and has about 500,000 users. Glusker moved up from his position as the Business Development and International Operations for Gilt Groupe. Below is the full press release:’
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Categories Gilt Groupe Inc., Peter Glusker
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Former Digg Engineering VP John Quinn Joining Gilt Groupe
John Quinn, the former Digg VP of Engineering is joining Gilt Groupe as the VP of Engineering this coming Monday. Quinn will be working at Gilt’s New York office and will be reporting to CIO Steve Jacobs. Quinn had worked at Digg for three years and had previously worked at Squaretrade as the VP of Engineering there too.
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Categories Digg, Gilt Groupe Inc., John Quinn
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Gilt Groupe Receives $35 Million
Gilt Groupe is an online private sales startup company that has raised $35 million. Gilt is partners with several companies for cross-deal promotions such as InStyle.com and Conde Nast. Gilt expects to hit about $400-$500 million in sales this year. The company may plan to have an IPO in 2011. This new round of funding is an extension to a previous round and increases the valuation of the company. The lead investors are General Atlantic and Matrix. [paidContent]
Categories General Atlantic, Gilt Groupe Inc., Matrix Partners
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General Atlantic and Matrix Partners Invests $43 Million Into Gilt Groupe
Gilt Groupe Inc. announced that the company has raised $43 million from General Atlantic and Matrix Partners. General Atlantic led the round of funding. Matrix Partners raised the Series A and B rounds.
Gilt Groupe launched the website Gilt.com in November 2007. Gilt.com sells luxury and designer goods at members-only prices. Since launching, the company quintupled membership in the last year. There are about 1.3 million registered members in the U.S. There are over 200,000 on their 5 month old Japanese website.
“We couldn’t be happier that General Atlantic has chosen to invest in Gilt Groupe, and look forward to working with Anton Levy and the GA team,” stated Gilt Groupe CEO Susan Lyne. “The company’s impressive track record and investment philosophy make them ideal partners and a valuable resource as we execute on our aggressive growth plan.”
The company plans to launch a service called Gilt Fuse, which focuses on fashion for younger members. Gilt also plans to launch a travel website called jetsetter.com.
Categories General Atlantic, Gilt Fuse, Gilt Groupe Inc., Gilt.com, Matrix Partners, Susan Lyne
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