Groupon Goes High Fashion

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Source: http://www.flickr.com/photos/diloz/

Groupon Inc. (NASDAQ:GRPN) on Monday announced that it acquired fashion flash deals website ideeli for $43 million in cash. The move will help boost Groupon’s presence both in fashion and mobile.

Ideeli offers huge flash discounts on designer clothing for men and women, as well as home goods. The site, one of the largest for flash sales of fashion items, was founded in 2007 and is based in New York. According to the companies’ press release, the site will continue to operate on its own.

“We are thrilled to add ideeli and their team to our company,” said Groupon CEO Eric Lefkofsky in the announcement. “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, anytime, anywhere.”

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