Home / Knowledge / News / Apparel/Garments / ideeli fuels hyper-growth with $41 mn Series C
ideeli fuels hyper-growth with $41 mn Series C
02
May '11
ideeli Inc, the leading U.S. members-only flash sale retail company in the mass-affluent segment, announced the completion of its Series C financing of $41 million. Led by Next World Capital, the equity will be used to support ideeli's continued rapid growth and brand expansion. Additional investors include Cue Ball Capital and current shareholders, StarVest Partners, Constellation Growth Capital and Kodiak Venture Partners.

With over 4 million members, ideeli is the fastest-growing members-only online shopping company in the United States and has emerged as the leader in the highly desirable mass-affluent market. "We are thrilled to welcome Next World and Cue Ball to our team," said Paul Hurley, CEO and founder of ideeli. "Their respective deep expertise in retail and media is essential for our next stage of growth."

Next World's managing partner and founder, Sebastien Lepinard, who joins ideeli's board of directors, has nearly two decades in high-growth retail, e-commerce operations and financial management. Previously, Lepinard was a director of the Halley Group, the lead investor in the world's second largest retailer, Carrefour. Cue Ball's leadership team has driven transformations in the digital media, information services, and specialty consumer spaces, and includes the CEO and senior leadership that transformed Thomson into the world's largest information media company, Thomson Reuters. The team brings extensive experience as founders, operators and investors in high growth, Internet and consumer businesses.

"ideeli has built an organization with strong values and processes that satisfy brand partners while growing sales at a very impressive rate; an incredible accomplishment" said Mr. Lepinard. "Having longstanding experience in mass-retailing, we fully appreciate the power of ideeli's value proposition to consumers: appealing products in a dynamic online environment while offering great value".

The financing will enable ideeli 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.

"ideeli is exactly the type of business we like to invest in and support," said Tony Tjan, Managing Partner, Cue Ball. "Their sound business model is characterized by deep customer loyalty and tremendous market reach. We are proud to be an investor and are excited to be working with Paul Hurley and his extraordinary team."

"StarVest's continued investment underscores our commitment to ideeli as they plan for this exciting next chapter," added Laura Sachar, General Partner, StarVest Partners.

ideeli Inc

Must ReadView All

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X