New York – Membership-based flash sales service Gilt Groupe
announced on Monday that it has raised $138 million in new financing, and established
a joint venture in Japan with new investor Softbank Group.

Previous backers
General Atlantic and Matrix Partners, as well as new investors Goldman Sachs,
New Enterprise Associates, Draper Fisher Jurvetson Growth, Pinnacle Ventures,
TriplePoint Capital and Eastward Capital also participated in the round.

invested $62.5 million in Gilt, resulting in the creation of 50-50 joint
venture Gilt Groupe Japan. Gilt first launched in Japan in March 2009, and
counts over 600,000 members in the country.

Founded in 2007, New York-based
Gilt offers deals on women’s, men’s and children’s apparel; home items;
vacation travel; and local services and experiences.

The company plans in
coming months to launch a gourmet food site, and a full-price men’s online
retail store.

Gilt said it will also use the new funding for acquisitions, as
well as the acceleration of growth in existing categories and geographies.


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