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This article was published on January 13, 2014

Groupon acquires flash sales online fashion retailer Ideeli for $43 million

Groupon acquires flash sales online fashion retailer Ideeli for $43 million Image by: Scott Olson
Nick Summers
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Nick Summers

Nick Summers is a technology journalist for The Next Web. He writes on all sorts of topics, although he has a passion for gadgets, apps and Nick Summers is a technology journalist for The Next Web. He writes on all sorts of topics, although he has a passion for gadgets, apps and video games in particular. You can reach him on Twitter, circle him on Google+ and connect with him on LinkedIn.

Groupon announced today that it has acquired Ideeli, an online fashion retailer that specializes in flash sales, for $43 million in cash.

The New York-based startup, founded in 2007, will be allowed to continue running its own site, although there will be some cross-over with Groupon’s core business. “Ideeli extends our fashion presence and brings great relationships with many of the top brands in apparel,” Groupon CEO Eric Lefkofsky said. “Our customers have a demonstrated appetite for these offers, and by broadening our reach in this space Groupon is even better positioned.”

Earlier this month, Groupon completed its $260 million acquisition of Ticket Monster, formerly owned by the Korean subsidiary of LivingSocial.

Press Release (Via TechCrunch)

Image Credit: Scott Olson/Getty Images