ideeli Online Luxury Shopping Community Secures $3.8 Million in Funding Major Investors Include Kodiak Ventures

Company Also Unveils New Multiplatform Destination, Blending Exclusive

Sales And Luxury Product Giveaways



    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
 up-and-coming brands."
 
     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.
 
     About ideeli
 
     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.
 
 
 

SOURCE ideeli.com

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