Groupon buys 'flash sale' site at discount

A sign that "flash sale" websites are struggling, Groupon picked up Ideeli for $43 million in cash, a loss to Ideeli shareholders considering the company received $107 million in venture capital 2007-13.

Ideeli sells designer goods via times sales. With its business model, the company has yet to turn a profit, and most recently operated at a $30 million loss, according to a Forbes report.

Coupon seller Groupon says it intends to keep Ideeli running as a separate website.

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