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Groupon snaps up flash sale fashion etailer Ideeli for $43m

Groupon has moved into the clothing market, acquiring flash sale fashion etailer Ideeli for $43m (£26.2m) in cash.

Ideeli offers more than a dozen clothing Sales every day and features a raft of brands such as Gucci, Christian Dior and the clothing line by singer Jessica Simpson. It was founded in 2006 and is based in New York.

Groupon chief executive Eric Lefkofsky said: “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.”

The company said Ideeli will continue to run as a separate website to Groupon.

The $43m (£26.2m) deal is viewed as a loss for Ideeli shareholders who pumped $107m (£65.2m) in venture capital into the company from 2007 to 2013.

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