ideeli acquired by Groupon
Retail Editor 2 -- Home Textiles Today, January 13, 2014
New York - Groupon is looking to up its fashion quotient with the acquisition of flash sales site ideeli, which was announced today.
Groupon, which specializes in localized deals and coupons for goods and services, paid $43 million in cash and will allow ideeli to operate as a separate entity from its New York headquariters.
In a letter to members this afternoon, ideeli ceo Stefan Pepe described Groupon as "the place you start when you want to do or buy just about anything, anytime, anywhere."
Groupon ceo Eric Lefkofsky said the deal "extends our fashion presence and brings great relationships with many of the top brands in apparel."
As part of the announcement, idelli offered members an extra 20% off their next order through Jan. 14.
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