Groupon has purchased fashion discounts firm Ideeli for $43 million in cash, the companies have announced. Six-year-old Ideeli employs 150 staffers that are mostly situated in its New York headquarters, which includes an elaborate photography studio the company utilizes to create its own marketing materials.
"Ideeli extends our fashion presence and brings great relationships with many of the top brands in apparel," remarked Groupon CEO Eric Lefkofsky in a statement. "Our customers have a demonstrated appetite for these offers, and by broadening our reach in this space Groupon is even better positioned as the place you start when you want to do or buy just about anything, anytime, anywhere."
It's the latest in Groupon's expansion efforts. The Chicago-based e-commerce juggernaut is expected to close on its $260 million acquisition of LivingSocial’s Ticket Monster sometime this quarter.
Meanwhile, a few years ago, LivingSocial was considered a serious threat to Groupon's dominance in the daily deals space. But the gap between the two firms seems to keep getting wider and wider.
Late last week, LivingSocial CEO Tim O'Shaughnessy said he was stepping aside after running the company since co-founding it in 2007 amid speculation that investors were growing impatient and wanted new leadership.