Ecommerce
The Shop Exchange: $40 Million for US Shopping Club Gilt Groupe
Posted 02 Jul 2009 by Jochen Krisch in ECOMMERCE Tags: ecommerce Strategy, Ecommerce solutions, social shoppingFormer Doubleclick founder Kevin Ryan has raised a record $40 million of growth capital for his shopping club Gilt Groupe (“Gilt Groupe Raising $40 Million At A Huge Valuation”):
Gilt was founded two years ago. It should generate about $150 million of revenue this year and more than $500 million next year. So that explains why brand name VCs like Matrix and GA continue to throw money at the company."
Silicon Valley Insider, also belonging to the Ryan empire, reported further that Hautelook recently received $10 million of capital. In May, Billion Dollar Babes raised $13 million.
It has taken a long time for the US to discover France’s Vente-Privée. But in recent times, Americans in their own right seem to have caught the shopping club fever. Other offerings include Editor's Closet, Glamlist, Ideeli, Juxzy, Ruelala, The Top Secret and many others. In December we counted 14 shopping clubs in the US (GE/EN), by now there are probably more.
Related posts:
- Gilt Groupe Shopping Club Expects Sales of $25 Million
- Onestop Internet Nabs $13 Million for Billion Dollar Babes (Club)
- RueLaLa: $25 Million for New Shopping Club
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.
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