ideeli Online Luxury Shopping Community Secures $3.8 Million in Funding

Major Investors Include Kodiak Ventures

NEW YORK, Dec. 17 /PRNewswire/ -- ideeli.com, www.ideeli.com, the first
red-rope online shopping community that connects luxury brands with the
consumers who covet them -- via computer, email or cell phone -- announced
today that it has secured $3.8 million in Series A funding from Kodiak
Ventures and angel investors.
ideeli offers a curated selection of in-style luxury accessories at 50 to
90 percent off, plus weekly giveaways, to their affluent membership base. By
combining pre-sale editorial coverage, last-minute alerts of sale starts, an
innovative mobile platform and a variety of community features, ideeli creates
a fun and social way for members to shop. This environment drives a high level
of anticipation and engagement, which provides ideeli's luxury and fashion
partners with an opportunity to tell a more detailed story about their
products and brands.
"ideeli's multiplatform shopping experience provides more than just an
opportunity to get luxury goods at great values -- it's engaging and fun,"
says ideeli founder and CEO Paul Hurley. "Our members tell us that they lunge
for their mobile phones when they receive ideeli alerts to make sure they
don't miss a giveaway or the start of a sale. We've been able to translate
member excitement into a deeper connection with established and up-and-coming
brands."
ideeli works in concert with a growing list of the world's top luxury
brands. Brands view ideeli as a way to drive demand in their retail channel
for current season items. Brands also sell past-season merchandise via ideeli
to not only have a safe, discreet place to clear excess inventory, but also to
turn that inventory into highly effective integrated advertising. Many luxury
brand partners have recognized the company's innovative and immersive approach
and are utilizing ideeli's innovative take on Web 2.0 as one of their first
social media efforts.
"The demand for luxury products online is large and growing rapidly. The
challenge for many brands is to find online partners who can protect and
enhance their high-end reputation," said Chip Meakem of Kodiak Ventures.
"Luxury brand gatekeepers have been looking for the right ways to leverage Web
2.0 tools to build their brands while continuing to increase revenue, and we
think ideeli has come up with a winning solution.
"Since its soft launch in May, the company's enthusiastic membership has
driven rapid viral growth, aided by the fact that 75 percent of first-time
visitors become members. Now, with an expanded roster of brand partners and
the successful completion of their financing, the company plans to greatly
expand membership in the coming months.
About ideeli
ideeli, Inc. was founded in 2006 by Paul Hurley, a serial entrepreneur who
wanted to create a shopping community that would usher luxury brands into Web
2.0 and connect them with a desirable consumer audience. The company is based
in New York. The executive team is comprised of seasoned Internet and Fashion
leaders from companies like Oracle, Aveo, Gloss.com, DoubleClick, Ralph Lauren
and Gucci. ideeli is backed by Kodiak Venture Partners and prominent angel
investors.
SOURCE ideeli.com

Hillary Houser, Sparkpr, +1-415-321-1877, hillary@sparkpr.com, for ideeli