Ideel

Ideel[1]
Online Retail
Industry E-commerce[2]
Founded 2006
Headquarters New York City, United States
Key people
 Lisa Kennedy,[3] Saurabh Sharma, Alain Demour, Simon Black, Sarah Liebel, Cecelia Myers
Products Apparel & Home
Parent Groupon
Website https://www.groupon.com/occasion/ideel

Ideel, formerly ideeli,[3] is a flash sale based online retailer based in New York City.[4][5]

History and Operations

Founded in 2006, its $77M in revenue in 2010 led Inc. to rank it as the fastest growing company in the United States for 2011.[6] In August 2012, Ideeli moved from Soho to the 45th floor of the New York Times Building.[7] It has raised $70M in venture capital funding.[8]

Ideel's business model is based on acquiring excess or sample merchandise and selling it quickly at very steep discounts to their members. Sales typically last less than 48 hours.[9] In 2014 they rebranded themselves as a source for affordable designer clothing.

In January 2014, Groupon bought Ideel for $43 million.[10] At some point the name became ideel, dropping the final 'i'.

References

  1. ↑ https://venturebeat.com/2014/08/14/groupons-flash-fashion-site-ideeli-rebrands-as-ideel-rolls-out-loyalty-program/
  2. ↑ E-commerce
  3. 1 2 http://www.marketwatch.com/story/ideeli-becomes-ideel-2014-08-14
  4. ↑ Tedeschi, Bob (November 17, 2007). "Ideeli sounds alert for discounted luxury items". The New York Times.
  5. ↑ O'Donnell, Jayne (November 17, 2011). "Ideeli flash-sale site sells high fashion for less". USA Today.
  6. ↑ "Ideeli -- New York, NY -- INC 5000". Inc. Retrieved July 18, 2012.
  7. ↑ "Ideeli's Times has come". Crains New York Business. Crains. Retrieved July 18, 2012.
  8. ↑ "Flash Sales Site Ideeli Raises $41 Million". Tech Crunch. Retrieved July 18, 2012.
  9. ↑ "The Fastest-Growing Private Company of 2011". Inc. Retrieved July 18, 2012.
  10. ↑ Clark , Evan (14 January 2014). "Groupon Buys Ideeli for $43 Million". WWD. Retrieved 14 January 2014.
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