Flash Sale Competition Heats Up as Ideeli Raises $41 M.

Ben Popper — Thu, 28 Apr 2011 10:05:07 -0400

New York has two of the biggest players in the flash sale sector, Gilt Groupe and Ideeli, both of which are growing fast and aiming at shoppers interested in bargains on high end designers.

Today Ideeli announced a $41 million raise, led by Next World Capital, nearly doubling the money they have raised so far. It plans to use the funds to, "Support its phenomenal growth trajectory through a variety of new initiatives, including category expansions, partnerships, technology enhancements, marketing campaigns, attracting key talent and enhancing the ideeli member experience."

The new cash is about half of the roughly $80-100 million Gilt Groupe was rumored to have brought in during a raise this February.

Betabeat » Flash Sale Competition Heats Up as Ideeli Raises $41 M.

Flash Sale Competition Heats Up as Ideeli Raises $41 M.