It's Cyber Monday and Blue Nile Sees Millennials Out There Shopping for Diamonds

Internet jeweler Blue Nile often sees a spike in traffic to its site on Cyber Monday, and this year will unlikely be any different.

Author:: Brian Sozzi
Publish date:: Nov 28, 2016 2:28 PM EST

It's Cyber Monday and that means people could be in the market for a diamond for that special someone. This year, internet jeweler Blue Nile (NILE) may see stronger than normal traffic to its website on Cyber Monday thanks to millennials, who have come out in force this holiday season to scoop up discounts on everything from big-screen TVs at Best Buy (BBY) - Get Report to apparel from J.C. Penney (JCP) - Get Report .

While Blue Nile prides itself on offering everyday low prices, it does have its fair share of promotions for Cyber Monday in effort to attract would-be buyers.

As Blue Nile monitors its Cyber Monday sales numbers, it also has one eye toward life as a private company. Earlier this month, Blue Nile agreed to a $500 million buyout from private equity firms Bain Capital and Bow Street. The all-cash deal represented a 34% premium over Blue Nile's closing price on Nov. 4. TheStreet's Brian Sozzi sat down with Blue Nile Chairman and CEO Harvey Kanter to discuss Cyber Monday and what lays ahead as a private company.