NEW YORK-ideeli, the online retailer that specializes in limited-time sales, has received $30 million in financing from Credit Suisse and what a company statement described as “current institutional investors.”
The new capital infusion will be used to bolster the website’s growth and invest in its infrastructure. Founded in 2007, ideeli offers more than a dozen new sales each day showcasing home decor; fashions for men, women and children; and beauty products. The company statement claimed that it has more than 5.5 million subscribers and 3,000 brand partners.
Paul Hurley, ideeli’s CEO and founder, said, “The investment will enable us to continue on our growth plans we transform our business beyond the flash-sales model into the next generation of e-commerce.”