Deal-of-the-day website Groupon has acquired of ideeli, an online flash fashion retailer, further extending its presence in fashion and apparel.
The deal was completed on January 13 for $43m in cash. Ideeli provides its millions of members with access to women's and men's apparel and accessories and home decor at significant savings. Founded in 2007 and based in New York, ideeli is one of the largest independent fashion flash sites. Groupon CEO Eric Lefkofsky said: "We are thrilled to add ideeli and their team to our company.
"Ideeli extends our fashion presence and brings great relationships with many of the top brands in apparel. Our customers have a demonstrated appetite for these offers, and by broadening our reach in this space Groupon is even better positioned as the place you start when you want to do or buy just about anything, anytime, anywhere."
Ideeli also brings a growing mobile presence and expertise in the flash sale shopping space with considerable room for growth.
ideeli CEO Stefan Pepe said: "Groupon's brand, reach and vision as an ecommerce destination make it a tremendous place to continue to grow our company. We look forward to bringing the great deals we offer to Groupon customers."
Ideeli will maintain its headquarters in New York and will continue to operate as a separate website.
To celebrate the acquisition, ideeli is offering 20% off any purchase until the end of January 14.