Gilt Groupe

Gilt Groupe
Company type	Limited
Industry	E-commerce
Founded	2007
Founder	Kevin P. Ryan (Chairman) - Alexis Maybank - Alexandra Wilkis Wilson
Headquarters	New York, NY, USA
Key people	Kevin p. Ryan (Chairman) - Susan Lyne (CEO) - V. Ann Hailey (CFO)
Number of employees	More than 250 (October 2009)
Website	http://www.gilt.com

Gilt Groupe is an online retailer based in the United States. Founded in 2007, Gilt Groupe stages online 'flash' sales, offering women's and men's designer apparel and accessories as well as as high-end travel destinations at discounted prices in a limited time sale format, typically 36 to 48 hours.

History

The company was launched in 2007 by Doubleclick co-founder Kevin P. Ryan, early eBay executive Alexis Maybank and Louis Vuitton and Bulgari merchandising executive Alexandra Wilkis Wilson.^[2] The company launched women's clothing and accessories in November 2007, men's in April 2008, Gilt Groupe Japan in February 2009, Gilt Fuse in August 2009 and a travel site named Jetsetter in September 2009. Gilt Groupe is based in New York, NY with warehouses in Brooklyn, NY and Andover, MA.

Financing

Gilt Groupe has raised a total of $48 million to date, its investors include Matrix Partners^[3] and General Atlantic^[4].

How it Works

Gilt Groupe visitors must be members in order to view sales, and must be invited by other members to join. New sales typically start at Noon ET, last 36-48 hours, and feature merchandise from a single brand or small groups of brands at prices 50%-70% off of manufacturer's suggested retail prices. An email announcing the start of each day's sales is sent to all members shortly before the sale starts, and orders are taken on a first come, first-served basis. As orders are received, they are shipped directly from warehouses in either Brooklyn, NY or Andover, MA.

Key figures

More than 1,500,000 members since launching in the US (October 2009)
Projected 2009 calendar year revenue of $150 million
700,000 unique visitors per month (Compete.com, September 2009)
2.7 million visits per month (Compete.com, September 2009)

References

^ Company Sources
^ [http://www.forbes.com/forbes/2008/0225/070.html "By Invitation Only"]. Forbes. Retrieved 2009-10-10. {{cite web}}: Check |url= value (help).
^ [http://www.redherring.com/Home/23215 "Gilt Groupe Grabs $5M"]. Red Herring. Retrieved 2009-10-10. {{cite web}}: Check |url= value (help)
^ [http://www.generalatlantic.com/en/news/article/1015 "Gilt Groupe, Inc. Announces New Growth Capital Investment"]. General Atlantic. Retrieved 2009-10-10. {{cite web}}: Check |url= value (help)

External links

Gilt Groupe website
Gilt Fuse website
Jetsetter website
http://magazine.wsj.com/features/shopping-revolution/buyers-market/tab/video/ Buyer's Market] - Wall Street Journal
http://www.businessinsider.com/henry-blodget-gilt-groupe-raising-40-million-at-a-huge-valuation-2009-7 Gilt Groupe Raising $40 Million at Huge Valuation] - BusinessInsider.com
http://uk.techcrunch.com/2009/10/12/the-1-5-billion-scramble-for-vente-privee-by-gilt-ebay-and-amazon/ The $1.5 billion scramble for Vente Privee by Gilt, eBay and Amazon] -- TechCrunch.com

[Gilt_Groupe_-_Company_Overview-1] Company Sources

[By_Invitation_Only-2] [http://www.forbes.com/forbes/2008/0225/070.html "By Invitation Only"]. Forbes. Retrieved 2009-10-10. {{cite web}}: Check |url= value (help).

[Gilt_Groupe_Grabs_$5M-3] [http://www.redherring.com/Home/23215 "Gilt Groupe Grabs $5M"]. Red Herring. Retrieved 2009-10-10. {{cite web}}: Check |url= value (help)

[Gilt_Groupe,_Inc._Announces_New_Growth_Capital_Investment-4] [http://www.generalatlantic.com/en/news/article/1015 "Gilt Groupe, Inc. Announces New Growth Capital Investment"]. General Atlantic. Retrieved 2009-10-10. {{cite web}}: Check |url= value (help)

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