More acquisitions for Groupon to widen the net of consumers using its platform to buy things online and take it further away from its earliest roots as a daily deals site. Today it’s announced the acquisition of ideeli, a flash fashion retailer, for $43 million in cash. The news comes on the heels of the company completing its acquisition of Living Social’s business in Asia for ticketing services.
This is both a product/customer and technology acquisition, with Groupon continuing to run ideeli’s business and also using its mobile expertise, possibly to expand into other flash sales categories.
“We are thrilled to add ideeli and their team to our company,” said Groupon CEO Eric Lefkofsky in a statement. “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.”
“Groupon’s brand, reach and vision as an ecommerce destination make it a tremendous place to continue to grow our company,” said ideeli CEO Stefan Pepe. “We look forward to bringing the great deals we offer to Groupon customers.”
More to come.
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