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Gilt Groupe raises $50M for IPO
Luxury online retailer Gilt Groupe has been preparing for an IPO for a year now, but didn’t have enough cash. Now the retailer says it has raised another $50 million from venture backers.
Founded in 2007, Gilt is a New York-based e-commerce retailer that holds flash sales of discounted luxury items from clothing to home décor. The $50 million infusion brings Gilt’s total amount raised to about $250 million.
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Nordstrom, Trader Joe’s tops in customer satisfaction; overall index declines
Ann Arbor, Mich. - Customer satisfaction with retail is down for the first time in four years. According to a report by the American Customer Satisfaction Index (ACSI), all brick-and-mortar retail categories show weakening or flat customer satisfaction for the fourth quarter of 2014. Internet retail satisfaction, however, is up from the same quarter in 2013.