Gilt Groupe, the very fast-growing online private sales startup, has raised $35 million more to expand its businesses, which in addition to its flagship luxury retail site Gilt also include travel sales site Jetsetter and the local sales site GiltCity. Gilt has partnered with several media firms to promote the properties. For instance, last fall it announced a deal with Conde Nast Traveler so that companies that have sales on Jetsetter could cross-promote deals in the magazine and vice versa. Gilt also has a partnership with InStyle.com.
Sales at the company are expected to reach between $400 and $500 million this year, up from $170 million in 2009, and the company said earlier this month when it hired former StubHub executive Andrew Page as its CFO that it it might consider an IPO in 2011.
Gilt says the new cash is an extension of its previous round of funding — which was led by General Atlantic and Matrix — and comes at a “higher valuation.” With the new money, Gilt will have raised $83 million since its start.