Deals

New funding values Gilt Groupe at $1B

Popular flash sales site Gilt Groupe announced today that it has raised another $138 million in funding and is now reportedly valued at around $1 billion.

The round exceeds earlier reports that pegged the New York City company’s new funding between $80 and $100 million. Japanese telecom Softbank invested $62.5 million, while separately contributing enough funding to Gilt Groupe Japan to take a 50 percent stake in the company. The remaining $75.5 million came from previous investors General Atlantic and Matrix Partners, as well as new backers Goldman Sachs, New Enterprise Associates, Draper Fisher Jurvetson Growth, Pinnacle Ventures, TriplePoint Capital, and Eastward Capital.

Gilt Groupe says it now has more than 3.5 million users. It’s pretty obvious by now that there’s a lot of cash flowing into online shopping (deals sites Groupon and LivingSocial have both raised big new rounds), but Gilt Groupe made its name by focusing on luxury products and services, something that was carried over when it expanded beyond flash sales, for example into Groupon-like deals at Gilt City.

In an interview with the Wall Street Journal, chief executive Kevin Ryan said the company will bring in $500 million in revenue for the year ending in June. And while he said there are no specific plans to go public, this will probably be Gilt Groupe’s final round of funding.

Trackbacks

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  2. [...] 道琼斯一位代表向VentureBeat证实巨额融资如LivingSocial的E轮融资5亿6千5百万美元和Gilt Groupe的1亿3千8百万美元并不是抬高整个领域投资平均线的必然原因。 [...]

  3. [...] to VentureBeat that mammoth rounds together with LivingSocial’s $565 million Series E and Gilt Groupe’s $138 million round aren’t necessarily driving up the median for the full [...]

  4. [...] just a few months ago, Gilt Groupe itself was able to scrape together a respectable $138 million in funding, which left the company valued at a tidy $1 [...]

  5. [...] just a few months ago, Gilt Groupe itself was able to scrape together a respectable $138 million in funding, which left the company valued at a tidy $1 [...]

  6. [...] just a few months ago, Gilt Groupe itself was able to scrape together a respectable $138 million in funding, which left the company valued at a tidy $1 [...]

  7. [...] just a few months ago, Gilt Groupe itself was able to scrape together a respectable $138 million in funding, which left the company valued at a tidy $1 [...]

  8. [...] Gilt Groupe’s recent $138 million funding round valued the company at $1 billion. The company had 3.5 million members as of May. [...]

  9. [...] Gilt Groupe’s recent $138 million funding round valued the company at $1 billion. The company had 3.5 million members as of May. [...]

  10. [...] to Gilt’s operations. Founded in spring 2007, Gilt has raised $221 million to date. Gilt raised $138 million in May 2011 at a valuation of $1 billion. Ryan told AllThingsD that the company will be looking to [...]

  11. [...] to Gilt’s operations. Founded in spring 2007, Gilt has raised $221 million to date. Gilt raised $138 million in May 2011 at a valuation of $1 billion. Ryan told AllThingsD that the company will be looking to [...]

  12. […] DoubleClick was acquired by Google for $3.1 billion; Gilt Groupe’s last round of investment valued the company at more than $1 billion; and until recently, Merriman was the CEO of MongoDB, worth approximately $1.2 billion. His idea of […]

  13. […] to Gilt’s operations. Founded in spring 2007, Gilt has raised $221 million to date. Gilt raised $138 million in May 2011 at a valuation of $1 billion. Ryan told AllThingsD that the company will be looking to […]