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Ideel
American online retailer From Wikipedia, the free encyclopedia
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Ideel, formerly ideeli,[3] is a flash sale based online retailer based in New York City.[4][5]
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History and Operations
Founded in 2006, its $77 million 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 $70 million 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'.
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References
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