You are hereVente-Privee And AmEx Team Up To Bring The European Flash Sales Site To The U.S.

Vente-Privee And AmEx Team Up To Bring The European Flash Sales Site To The U.S.

Posted on 12 May 2011

Vente-Privee, the European flash sales giant, has announced a joint venture with American Express to bring the site to the U.S.
Vente-Privee, which was founded in France in 2001, is one of the pioneers of the flash sales model. Because of the site’e massive reach and scale, companies like Amazon and eBay have been rumored to be eying the company for an acquisition.
Currently, Vente-Privee has approximately 13 million members and more than $1 billion in European sales. As part of the agreement, each organization will own 50 percent of the new U.S. entity. This marks the first non-European market entry for vente-privee.com, and allows American Express to expand its presence in the flash sales business.
Of course, a Vente-Privee’s U.S. site has a host of established competitors in the country, included the well-funded leader of the pack, Gilt Groupe. Gilt just raised $138 million and has a growing family of flash-sales sites, including the original Gilt, Gilt Home, Gilt City, Gilt Children, Gilt MAN, and Jetsetter. Other flash sales sites in the U.S. include HauteLook, RueLaLa, BeyondTheRack and Ideeli.
For AmEx, the new site is another way the credit card and payments company is investing in e-commerce and technology, The company just partnered with LevelUp and also teamed up with Foursquare as well.





Tags

Similar entries

  • Flash Sales Site Beyond The Rack Raises $12 Million To Take On Gilt

    Beyond the Rack, a members-only sample sale site, has raised another round of funding today. The startup has just announced a $12 million round of funding from Highland Capital Partners and BDC Venture Capital. This brings the Beyond The Rack’s total funding to $16.5 million.

  • Is Amazon Nimble Enough for Flash Sales?

    Last month, e-commerce giant Amazon made a foray into the flash sales marketplace. With European flash sales stalwart Vente Privee entering the North American market, and with the tremendous growth of U.S. flash sales players like Gilt Groupe and Rue La La, it's clear that the flash sales sector is blossoming. Every week, there's a new startup or another round of funding.

  • Gilt Groupe Brings Flash Sales To The iPad


    Online sample sale site Gilt Groupe, is debuting its free iPad app today, letting users access its flash sales directly from the device. Gilt Groupe’s sales on luxury goods on its properties, including Gilt, Gilt Fuse, and Gilt Man, can all be accessed directly from the app.

  • Naspers Leads $17 Million Round In Private Sales Site Brandsclub

  • Gilt Gives The Ultimate Auto Deal For Christmas: $10,000 Off A Jetta

    It looks like you’ll soon be able to shop for cars on flash sales sites. Gilt Groupe has just announced a first-ever auto flash sale of a Volkswagen Jetta on the site.
    Beginning on Wednesday of this week, Gilt will sell 3 brand new 2011 Jettas to members at $5,995, which is down from a starting list price of $15,995. The company says the flash sale will take place over three days, signifying the first car sale on a flash sales site.

  • Flash Sales Site Ideeli Raises $41 Million

    Flash sales site Ideeli, which was founded in 2007, has raised $41 million in Series C funding led by Next World Capital with Cue Ball Capital, StarVest Partners, Constellation Growth Capital and Kodiak Venture Partner participating in the round. This bring’s Ideeli’s total funding to nearly $70 million

  • 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.

  • Amazon Launches Private Fashion Sales Site MyHabit.com


    Amazon this morning announced that it is debuting a brand new private sales site, featuring fashion items straight from designers and boutique brands.
    The membership-only website, MyHabit.com, will offer daily events featuring up to 60 percent off a selection of styles.
    Interestingly, the site will feature high-quality photos and videos of the clothing on live models. The site features free four-day shipping shipping and returns.

  • Totsy Lands $5 Million In Funding For Flash Sales Site For Children Products


    Exclusive - Totsy, a private sale site targeting moms of kids aged 0-7 (and moms-to-be), has raised $5 million in Series A funding from DFJ Gotham and Rho Ventures. The financing round follows the startup’s recent “acquisition” of competitor bTrendie’s member base.

  • Nordstrom Acquires Flash Sales Site HauteLook For $270 Million

    In one of the larger exits so far in the flash sales business, retail chain Nordstrom has acquired flash sales site HauteLookfor $180 million in Nordstrom stock and three-year earn-out of up to $90 million. HauteLook has raised $41 million in funding.

Search on WorldTech24.com

Popular content

Today's:


Last viewed:

Tags - sort news by subject

more tags