Gilt announces private offering of common stock

Gilt announces that it intends to offer a private placement of its common stock. The company says that the net proceeds from the offering will be used to repay debt, for working capital and other general corporate purposes.

Under the terms of the proposed offering, Gilt expects to sell 2.5 million shares of common stock at a price of $10 per share. Goldman Sachs & Co will act as the sole underwriter for the proposed offering.

The proposed private offering is subject to customary conditions, including regulatory approvals.

This announcement comes just days after Yahoo! announced that it was acquiring Gilt for $1.1 billion in cash.

Gilt raises $280 million in new funding

Gilt, a leading online shopping destination for designer apparel, home furnishings and accessories, has announced that it has raised $280 million in new funding. The company said that the round was led by Wellington Management Company LLP and included participation from existing investors such as Battery Ventures, General Atlantic and Goldman Sachs.

"This financing will further our goal of becoming the world's premier digital retailer," said Kevin Ryan, CEO of Gilt. "We are very excited to have the support of Wellington Management and our other existing investors as we continue to innovate and grow our business."

The new funding will be used to bolster Gilt's expansion into new international markets and to invest in its technology infrastructure. The company currently operates in the United States, Canada, the United Kingdom, France and Italy.

Founded in 2007, Gilt is one of the pioneers of the flash sale model, which offers discounts on designer apparel and home furnishings for a limited period of time. The company has more than 10 million members worldwide.

Gilt stock soars on latest funding news

Gilt stock soared on the news that they had raised $280 million in their latest funding round. The company has been on a hot streak lately, with their stock more than doubling in value over the past year.

The company plans to use the money to continue expanding their operations both in the United States and around the world. They also plan to invest in new technology initiatives, including a new e-commerce platform that will allow customers to buy items from Gilt directly.

This latest round of funding was led by Fidelity Investments, with participation from other major investors such as General Atlantic, Warburg Pincus, and Technology Crossover Ventures. It brings Gilt's total capital raised to over $1 billion since they were founded in 2007.

Gilt is one of the leading online retailers in the United States, with over 10 million registered users. They offer a wide variety of items, including clothes, accessories, home decor, and food items. They are particularly known for their designer brands, which can be quite expensive.

Despite their high prices, Gilt has been able to grow rapidly due to their heavy focus on discounts and promotions. In fact, many of their items are available at a discount of 50% or more off the regular price. This has made them a popular destination for bargain shoppers.

The company is also looking to expand into new markets beyond clothing and accessories. In particular, they are targeting the home decor market, which is estimated to be worth over $100 billion globally.

It remains to be seen whether Gilt can maintain their current growth trajectory, but there is no doubt that they are one of the most promising startups in the retail space. Their combination of high-quality merchandise and aggressive discounts has proven to be very successful so far, and there is plenty of room for further growth.

Gilt to use funds to expand beyond fashion

Gilt Groupe, a women's fashion retailer, announced recently that it would use some of its recent funding to expand beyond just fashion. Gilt plans to launch new verticals in the near future, including home goods, food, and travel.

The company has seen success with its flash-sales model, which offers deep discounts on high-end merchandise for a limited time. But as competition in the space has increased, Gilt has been looking for new ways to differentiate itself.

One strategy is to offer a wider range of products. "We want to be the one-stop shop for the modern woman," said Michelle Peluso, CEO of Gilt Groupe. "She's looking for great fashion at amazing prices but she also wants access to experiences and quality home goods."

Gilt has already begun rolling out its new offerings, with food being the most recent addition. The company has partnered with several top chefs to create a catalog of recipes that can be prepared at home. And travel is also on the horizon; Gilt has already started offering deals on airfare and hotels.

These expansion efforts come at a time when Gilt is facing increased competition from rivals like Rue La La and Fab.com. But Peluso is confident that Gilt's unique offerings will set it apart from the pack. "Our members trust us to bring them great products at exceptional values," she said. "And we're going to continue delivering on that promise."

Gilt CEO: We're not a flash sale site

The CEO of Gilt, a shopping site that has seen its fair share of criticism in the past, recently spoke out about what the company really is. In a nutshell, Gilt is not a flash sale site.

Speaking at the Future of Retail Summit in New York City, Kevin Ryan said that Gilt is "a membership-based ecommerce company." He went on to say that the company's focus on curating products and offering personalization has helped it to succeed.

This may come as a surprise to some people who view Gilt as nothing more than a place to buy discounted items. However, Ryan points out that Gilt's business model is very different from those of other flash sale sites. For example, members can buy items at full price if they wish and don't have to wait for discounts.

Ryan also said that Gilt plans to focus on mobile commerce in the future. This is an interesting move, given that mobile commerce currently accounts for only a small percentage of the company's sales.