Groupon (GRPN) Acquires Fashion Deals Site Ideeli

NEW YORK (TheStreet) -- Groupon (GRPN) said Monday it acquired "flash fashion retailer" Ideeli for $43 million in cash.

Shares of Groupon fell 2.4% to $11.28 on Monday.

Ideeli specializes in short-term clothing and accessory sales that last a few days. "Ideeli extends our fashion presence and brings great relationships with many of the top brands in apparel," Groupon CEO Eric Lefkofsky said in a press release.

The fashion deals Web site will continue to operate as a separate site, and will keep its current New York headquarters.


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