Ideel

Ideel ^[1]

Company type	Subsidiary
Industry	E-commerce [2]
Founded	2006;19 years ago (2006)
Headquarters	New York City , United States
Key people	Lisa Kennedy [3] Saurabh Sharma Alain Demour Simon Black Sarah Liebel Cecelia Myers
Products	Apparel & Home
Parent	Groupon
Website	www.groupon.com/occasion/ideel

Ideel, formerly ideeli, ^[3] is a flash sale based online retailer based in New York City. ^{[4] [5]}

History and Operations

Founded in 2006, its $77M 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 $70M 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'.

References

1. "Groupon's flash fashion site, Ideeli, rebrands as Ideel, rolls out loyalty program". 14 August 2014. Retrieved 3 January 2019.
2. E-commerce
3. "ideeli Becomes ideel". MarketWatch. Retrieved 3 January 2019.
4. Tedeschi, Bob (November 17, 2007). "Ideeli sounds alert for discounted luxury items". The New York Times .
5. O'Donnell, Jayne (November 17, 2011). "Ideeli flash-sale site sells high fashion for less". USA Today .
6. "Ideeli -- New York, NY -- INC 5000". Inc. Retrieved July 18, 2012.
7. "Ideeli's Times has come". Crains New York Business. Crains. Retrieved July 18, 2012.
8. "Flash Sales Site Ideeli Raises $41 Million". Tech Crunch. Retrieved July 18, 2012.
9. "The Fastest-Growing Private Company of 2011". Inc. Retrieved July 18, 2012.
10. Clark, Evan (14 January 2014). "Groupon Buys Ideeli for $43 Million". WWD. Retrieved 14 January 2014.