Gilt Groupe Gets Ready To Raise As Much As $138 Million

Kevin Ryan and Susan Lyne, Gilt
Gilt Groupe chairman Susan Lyne and CEO Kevin Ryan

Flash sales powerhouse Gilt Groupe is preparing to raise up to $138 million from investors, according to a state filing provided to PEHub by research firm VC Experts.We reported back in February that Gilt Groupe was raising $80-100 million at a valuation around a billion dollars. We assume this is the same round.

Since then the funding environment for late-stage startups has only gotten hotter, so it would make sense that Gilt is raising more money, perhaps at an ever higher valuation.

That being said, the space has also become more competitive. Vente Privée, the original and biggest flash sales player, is poised to invade America, and Amazon just launched Myhabit, its own Gilt/VP rival. That money could come in handy.

Don’t Miss: Meet MyHabit, Amazon’s Gilt And Vente Privée Killer →

Disclosure: Business Insider and Gilt Groupe share co-founders; Gilt Groupe CEO Kevin Ryan is Business Insider’s chairman.