Ten Questions for Gilt Groupe’s CEO Kevin Ryan After His Big Funding RoundMay 08, 2011
All Things Digital
by Tricia Duryee
Here are the highlights from my interview with Gilt Groupe’s Founder and CEO Kevin Ryan, who just raised $138 million in capital to place the company in the upper echelon of today’s new e-commerce companies.
For more on the financing, including Softbank’s role in the deal, read the details here. Otherwise, continue reading below for excerpts from our chat.
When Ryan first started the company almost four years ago today, it focused on selling woman’s clothing and accessories to members who signed up for a daily email. Now Gilt, which targets affluent young professionals, has expanded into men’s apparel, travel, children’s items and home decor. In a matter of months, it will launch two new verticals: gourmet food and full-priced men’s clothing.
So, $138 million is a lot of money. Is an IPO next?
“It will be great not to have to do this [fundraising] for a long time. This will be the last time the company raises a private round. [We’ll be seeking an initial public offering] at some point, but we have no specific plans. It’s not happening any time soon, but that would be the next step.”
Read the full interview here: