Funding daily: Score a used car on the cheap

We have several funding stories for you today, including several startups just getting seed funding. If you’re hankering for more details from each deal, click the links in each paragraph. As always, send funding news our way at


How JackThreads grew from a bootstrapped bedroom startup to 2M members

After working from his bedroom for two and a half years, Jason Ross launched JackThreads — a men’s online shopping club that had yet to establish a payment system via credit cards — in 2008. His first online sale featured a single brand and only sold three items, but the company quickly acquired several hundred members in the first three months. Today, JackThreads has almost 2 million members, over 500 brands and over 60 employees. The flash-sales company was bought by Thrillist in 2010 for an undisclosed amount, but Ross continues to lead the company’s daily operations. Here, Ross shares his highs, his lows, his best advice and what he thinks is next for the online retail industry.

Flash-sales site Privalia in $280 million global shopping spree

The second wave of e-commerce is coming, buoyed by a flood of fresh cash. European flash-sales site operator Privalia, which offers short-term, steeply discounted fashion deals in Spain, Italy, Brazil, and Mexico, is expanding to Germany with a $280 million acquisition of rival Dress-For-Less.

Deal of the day: Gilt Groupe raising $80M to $100M

Gilt Groupe has built a big business from flash sales, where consumers converge on a particular shopping deal for a limited time. And now the company is shopping for its own investment deal.