Gilt Groupe

  • Venture Capital Is Terrible At Online Shopping Crunch Network

    Venture Capital Is Terrible At Online Shopping

    Another day, another series of Silicon Valley e-commerce explosions: Gilt Groupe just sold for a fraction of its valuation (and its capital raised) and One Kings Lane is reportedly the next to die. Previously it was Fab.com being sold for nothing after severely underperforming — ah, Fab, the first billion-dollar retail “unicorn” born with crossed eyes and a trick knee. Read More

  • Gilt’s Unicorn Tale Comes To An End After Being Acquired For $250M

    Gilt’s Unicorn Tale Comes To An End After Being Acquired For $250M

    Hudson’s Bay Company, the owner of department chain stores like Saks Fifth Avenue, said today it was acquiring Gilt Groupe for $250 million. The sale still represents a tough end to the story of Gilt. The startup was one of the original darling flash-sale sites coming out of New York. But that whole market has found itself challenged by slim operating margins, its initial popularity… Read More

  • Is Gilt About To Be Acquired By Saks Fifth Avenue?

    Is Gilt About To Be Acquired By Saks Fifth Avenue?

    Gilt.com, the New York-based fashion discount site, is in talks to be acquired for $250 million, according to the Wall Street Journal. The prospective buyer is Hudson’s Bay, which owns Saks Fifth Avenue. An early pioneer in “flash sales,” Gilt sells heavily discounted items from high-end brands. It has been marketed as an avenue for online sample sales and showcases… Read More

  • Gilt Groupe Cuts 45 Jobs Amid A Quest For Profit, CMO And International Head Exit

    Gilt Groupe Cuts 45 Jobs Amid A Quest For Profit, CMO And International Head Exit

    Some downsizing is on the cards for Gilt Groupe, the fashion flash-sales site that has been valued at $1.1 billion. TechCrunch has learned that the company is cutting 45 jobs as it tries to turn profitable by next year. Among those leaving the company are CMO Clay Cowan and head of international business Marshall Porter, with the roles disappearing with them. TechCrunch first heard of… Read More

  • Mentors Are The Secret Weapons Of Successful Startups Crunch Network

    Mentors Are The Secret Weapons Of Successful Startups

    “I’ve probably revised this investor pitch deck 200 times,” a founder told me recently. She’d met with more than 50 potential investors before closing a seed round last month. This might sound excessive to some, but her experience is not unusual. Entrepreneurs often spend hundreds of hours raising funds from angel and venture capital investors. While these activities… Read More

  • Andrei Cherny’s ‘Aspiration’ Brings The Investment Tools Of The 1% To The Other 99%

    Andrei Cherny’s ‘Aspiration’ Brings The Investment Tools Of The 1% To The Other 99%

    At 39 years old, Andrey Cherny has advised presidents, consulted with Fortune 100 companies, worked as a state prosecutor, served as a Naval reserve officer, founded a think tank and policy journal, and written a couple of books. Now he’s adding entrepreneur to the list with the launch of Aspiration Partners LLC. Read More

  • Aol Confirms Susan Lyne As CEO Of Brand Group, Artie Minson Out As COO Role Goes (Memo)

    Aol Confirms Susan Lyne As CEO Of Brand Group, Artie Minson Out As COO Role Goes (Memo)

    Aol today confirmed a couple of big changes at the top of the company, as first reported yesterday by Bloomberg and AllThingsD. Susan Lyne, the exec who had previously been at Gilt Groupe, is the new CEO of Aol’s Brand Group (including TechCrunch). Meanwhile, Artie Minson is stepping down as COO as the role gets restructured. Read More

  • One Kings Lane: From The LAX Arrivals Terminal To $200M In Revenue

    One Kings Lane: From The LAX Arrivals Terminal To $200M In Revenue

    As Susan Feldman waited outside the Southwest Airlines arrivals terminal at Los Angeles International Airport in October 2008, she had a nervous feeling in her stomach, which she compares to blind date jitters. Except this wasn’t your traditional blind date. Feldman was meeting Ali Pincus, her soon-to-be co-founder, for the first time. They had spoken over the phone after a mutual friend… Read More

  • Jetsetter Moves Beyond Flash Sales: Recommendations Now A Third Of Its Business

    Jetsetter Moves Beyond Flash Sales: Recommendations Now A Third Of Its Business

    Jetsetter, the exclusive travel community for globetrotters, seems to be on a roll. In recent days, the company has announced a dozen some new corporate partners, a handful of new sale formats to entice customers, and new distribution partnerships with high-profile sites like Kayak, The Economist and the vacation rental service HomeAway. But while many think of Jetsetter as a flash sales… Read More

  • GroupMe's Steve Martocci on Summer Internships

    GroupMe, Gilt Groupe, Jon Bon Jovi Launch SummerQAmp To Create More Quality Assurance Jobs

    Unemployment continues to be an issue here in the States, but the tech industry could prove a very valuable resource when it comes to building out the American work force. That said, I sat down with GroupMe co-founder Steve Martocci who may have a plan to help solve the problem. In conjunction with former White House CTO Aneesh Chopra, musician Jon Bon Jovi, and Gilt Groupe’s Vice… Read More

  • Announcing The 2011 Crunchies Finalists And Tickets On Sale Now

    Announcing The 2011 Crunchies Finalists And Tickets On Sale Now

    The nominations have been tabulated and the votes are in. Over 300,000 nominations were calculated across 20 categories. Along with our partners GigaOm and VentureBeat, we are very proud to announce the finalists for 2011’s best in technology. Voting begins now. For 2011, we’ve added some new categories. Best Location App, Best Cloud Services and Biggest Social Impact join the… Read More

  • Gilt Goes Global; Expands Flash Sales Site To Over 90 Countries

    Gilt Goes Global; Expands Flash Sales Site To Over 90 Countries

    Flash sales giant Gilt Groupe is announcing major expansion plans to today, with the company’s e-commerce offering extending to over 90 countries. Additionally, Gilt will offer international customers free shipping for a limited time. Gilt’s international sites will offer daily flash sales on women’s men’s and kids clothes and accessories, as well as home decor… Read More

  • Gilt Groupe Debuts New Home Focused Retail And Curated Content Site To Take On One Kings Lane

    Gilt Groupe Debuts New Home Focused Retail And Curated Content Site To Take On One Kings Lane

    Flash sales giant Gilt Groupe has been steadily expanding its flash sales platform into a full-fledged e-commerce and curated content platform that reaches all major retail verticals including fashion, food, men’s clothing, and now the home. Today, Gilt is launching a brand new destination for home accessories and furniture, called Gilt Home. While Gilt has been offering home goods via… Read More

  • Gilt Groupe And Gogo To Offer Exclusive In-Flight Deals To WiFi Users

    Well this is interesting. Gilt Groupe is partnering with in-flight wifi provider Gogo to offer passengers exclusive in-air deals on the flash sales site. So when you log-on to Gogo WiFi on any Delta, United, Virgin America, Alaska Airlines and US Airways planes, you can find exclusive deals on Gilt. You’ll also be able to access Gilt for free (as opposed to paying the $4.95 minimum price… Read More

  • Who Is In The New Billion Dollar Valuation Club?

    Who Is In The New Billion Dollar Valuation Club?

    Recently I sat down with a well-connected Silicon Valley CEO who just raised a ton of money, and who knew of other startups raising even more. There is a new startup club of younger companies raising money right now at $1 billion valuations. I already knew a couple of them, but I started asking a few venture capitalists and now I have a pretty good list of who is in that club and who is… Read More

  • Kevin Ryan on the Importance of Presentation

    (Founder Stories) Gilt's Kevin Ryan—It Is All In The Presentation (TCTV)

    Chris Dixon wraps his Founder Stories interview with Gilt Groupe’s CEO and Founder, Kevin Ryan by discussing the early sales strategy of Gilt – a strategy that was designed to build customer and brand loyalty, but not the bottom line, at least initially. Revisiting the launch period around four years ago, Ryan says, “we were going to make $4,000 for us on a sale and I… Read More

  • Gilt CEO Kevin Ryan on The Bubble

    (Founder Stories) Gilt Groupe’s Kevin Ryan Says There Is No Bubble (TCTV)

    Heading into TechCrunch Disrupt, New York, we pulled a couple excerpts from Chris Dixon’s freshly shot Founder Stories interview with Gilt Groupe’s CEO & Founder, Kevin Ryan. Ryan, who will be speaking at the conference dismisses talk of the so-called “tech bubble” and dives into the “renaissance” of the New York Tech scene. Responding to a recent… Read More

  • Exclusive: Gilt Taste Is Cooking Up An iPad App That Will Let You Swipe Without Touching

    Earlier today, Gilt launched the latest addition to its group-buying sites with Gilt Taste—a very pricey online purveyor of produce, meats, fish, cheese, and other “artisinal” foods. While it’s easy to get distracted by the jaw-dropping prices ($50 steaks anyone?), the part I find interesting is that Gilt Taste is also an online magazine. Mouth-watering food… Read More

  • Gilt Groupe Nabs $138 Million From Softbank, Goldman, Other Investors

    Luxury group buying service Gilt Groupe is joining the mega-round bandwagon today with a new $138 million funding, led by Softbank, which took nearly half the round. Goldman Sachs, New Enterprise Associates, Draper Fisher Jurvetson Growth, Pinnacle Ventures, TriplePoint Capital and Eastward Capital also participated, as did existing investors General Atlantic and Matrix Partners. Gilt… Read More

  • Gilt Groupe Acquires Interior Design Community Decorati

    Flash sales giant Gilt Groupe has acquired home decor site Decorati. Terms of the deal were not disclosed. Founded by interior designer Shane Reilly, Decorati launched in 2009 as an online platform for both interior decorators and consumers who are looking for professional design advice and guidance. Decorati essentially aims to democratize the interior design community by bringing the… Read More