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Groupon Shells Out $43 Million for Flash-Sale Site Ideeli

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Groupon, the online coupon company that wants to save you 30% on dinner at that Thai restaurant down the street and 50% off laser skin resurfacing, just invested in the waning trend of flash sales. Crain's reports that Groupon recently signed a deal to acquire women's retailer Ideeli for $43 mil, which sounds like a lot until you consider that three years ago, Nordstrom purchased HauteLook for a whopping $270 mil.

Said Groupon's chief exec, "Ideeli extends our fashion presence and brings great relationships with many of the top brands in apparel. Our customers have a demonstrated appetite for these offers." Current sales on Ideeli include Jessica Simpson, BB Dakota and Tommy Hilfiger. To celebrate the acquisition, Ideeli is offering an extra 20% off purchases through January 14 at 11:59pm ET.
· Groupon buys ideeli for $43M [Crain's]
· Groupon Is Gunning To Be the Next Gilt Groupe [Racked]