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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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Study: Online shoppers expect user reviews
Chicago – Customer reviews are now an expectation, not an option, for e-commerce sites. According to a study analyzing the impact of user-generated content on consumer purchase behavior from ratings and reviews provider PowerReviews, consumers will abandon a site if it doesn’t provide the information they need.