NEW YORK, Dec. 17 /PRNewswire/ -- ideeli.com, www.ideeli.com, the first
red-rope online shopping community that connects luxury brands with the
consumers who covet them -- via computer, email or cell phone -- announced
today that it has secured $3.8 million in Series A funding from Kodiak
Ventures and angel investors.
ideeli offers a curated selection of in-style luxury accessories at 50
to 90 percent off, plus weekly giveaways, to their affluent membership
base. By combining pre-sale editorial coverage, last-minute alerts of sale
starts, an innovative mobile platform and a variety of community features,
ideeli creates a fun and social way for members to shop. This environment
drives a high level of anticipation and engagement, which provides ideeli's
luxury and fashion partners with an opportunity to tell a more detailed
story about their products and brands.
"ideeli's multiplatform shopping experience provides more than just an
opportunity to get luxury goods at great values -- it's engaging and fun,"
says ideeli founder and CEO Paul Hurley. "Our members tell us that they
lunge for their mobile phones when they receive ideeli alerts to make sure
they don't miss a giveaway or the start of a sale. We've been able to
translate member excitement into a deeper connection with established and
ideeli works in concert with a growing list of the world's top luxury
brands. Brands view ideeli as a way to drive demand in their retail channel
for current season items. Brands also sell past-season merchandise via
ideeli to not only have a safe, discreet place to clear excess inventory,
but also to turn that inventory into highly effective integrated
advertising. Many luxury brand partners have recognized the company's
innovative and immersive approach and are utilizing ideeli's innovative
take on Web 2.0 as one of their first social media efforts.
"The demand for luxury products online is large and growing rapidly.
The challenge for many brands is to find online partners who can protect
and enhance their high-end reputation," said Chip Meakem of Kodiak
Ventures. "Luxury brand gatekeepers have been looking for the right ways to
leverage Web 2.0 tools to build their brands while continuing to increase
revenue, and we think ideeli has come up with a winning solution.
"Since its soft launch in May, the company's enthusiastic membership
has driven rapid viral growth, aided by the fact that 75 percent of
first-time visitors become members. Now, with an expanded roster of brand
partners and the successful completion of their financing, the company
plans to greatly expand membership in the coming months.
ideeli, Inc. was founded in 2006 by Paul Hurley, a serial entrepreneur
who wanted to create a shopping community that would usher luxury brands
into Web 2.0 and connect them with a desirable consumer audience. The
company is based in New York. The executive team is comprised of seasoned
Internet and Fashion leaders from companies like Oracle, Aveo, Gloss.com,
DoubleClick, Ralph Lauren and Gucci. ideeli is backed by Kodiak Venture
Partners and prominent angel investors.