Ideeli is ranked the number one fastest growing company of 2011. Inc. magazine released their annual Inc. 500, a list of the country’s 500 fastest-growing private businesses. Ideeli’s members-only flash sales business model earned the number one spot with three year sales growth of 40.662% and revenue of $77.7 million. Paul Hurley, the founder of Ideeli, told Inc., “The day after Lehman failed, which was a spectacular day for us, you could fire a gun in Saks and not hit anybody.” Still, we didn’t know it was this big. Well, he knows who he has to thank for his major success, the shoppers of course!
The New York based company launched in 2007 and specializes in limited time designer sales and was one of the first to adopt this type of business model in the U.S shortly after Gilt Groupe. Currently, Ideeli boasts over 4.5 million members and 1,000 brand partners. [Fashionista]
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