New York, NY—November 2, 2011—Gilt Groupe's leading luxury experience site, Gilt City, is acquiring assets of the daily deal site BuyWithMe. This acquisition accelerates Gilt City's footprint in the regions where the two companies overlap. The transaction also gives our new members access to all of Gilt's offerings, including women's, men's and children's apparel and accessories, home décor, travel experiences and gourmet food and wine.
BuyWithMe, considered one of the country's leading daily deal and social-commerce companies, offers local services to its customer base of millions in 13 markets around the country. The acquisition will pave the way for Gilt City to further expand in its own ten markets, and also quickly expand into new markets over the next 12 months. Gilt City members will benefit from a wider choice of services thanks to their breadth of quality merchants.
"This purchase demonstrates Gilt Groupe's commitment to making Gilt City a top player in the local- services industry," said Kevin Ryan, CEO and Founder of Gilt Groupe. "BuyWithMe complements our philosophy of providing premium offers to customers at great prices. We are excited to capitalize on this incredible opportunity to grow our lifestyle positioning."
"This deal celebrates a tremendous first year for Gilt City, as we look forward to expanding our reach and brand offerings," said Nathan Richardson, President of Gilt City. "Today's news allows us to reach more customers with compelling offers. BuyWithMe's partners, loyal customer base and strong team will be an asset to Gilt City's existing partners and members."
"Gilt Groupe and Gilt City's approach has proven to be incredibly efficient and effective," said BuyWithMe CEO Jim Crowley. "We're excited to join forces by marrying our expansive customer and merchant base, best practices and sales force with Gilt's prestigious positioning."
During a transition period, BuyWithMe will carry out sales previously scheduled in markets that Gilt City serves after which its members will continue to receive offers through Gilt City and Gilt Groupe.
To browse Gilt City's newly expanded platform, please visit www.giltcity.com
About Gilt City
Gilt City provides access to unique and coveted lifestyle experience in the world's most dynamic cities—at insider prices. Each sale lasts a limited time and features a city's most sought-after restaurants, spas, concerts, cultural offerings and more. Gilt City currently features offers in New York, Boston, Chicago, Miami, San Francisco, Los Angeles, Tokyo, Atlanta, Dallas, Seattle and Washington, D.C. A subsidiary of Gilt Groupe Inc., Gilt City is headquartered in New York City with local curators in each market. To find out more please visit www.giltcity.com.
Jennifer Miller, Gilt Groupe, email@example.com
Caitlyn Carpanzano, Gilt City, firstname.lastname@example.org