Ideel, formerly ideeli, is a

flash sale Deal-of-the-day (also called daily deal or flash sales or one deal a day) is an ecommerce business model in which a website offers a single product for sale for a period of 24 to 36 hours. Potential customers register as members of the deal-a-day w ...

based online retailer based in

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

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 The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

for 2011. In August 2012, Ideeli moved from Soho to the 45th floor of the

New York Times Building The New York Times Building is a 52-story skyscraper at 620 Eighth Avenue, between 40th and 41st Streets, on the west side of Midtown Manhattan in New York City. Its chief tenant is the New York Times Company, publisher of ''The New York Time ...

. It has raised $70M in

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...

funding. 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. In 2014 they rebranded themselves as a source for affordable designer clothing. In January 2014,

Groupon Groupon is an American global e-commerce marketplace connecting subscribers with local merchants by offering activities, travel, goods and services in 13 countries. Based in Chicago, Groupon was launched there in November 2008, launching soon af ...

bought Ideel for $43 million. At some point the name became ideel, dropping the final 'i'.

References

{{company-stub Online retailers of the United States Retail companies established in 2006 Internet properties established in 2006 2014 mergers and acquisitions