Spanish Private-Sales Site Privalia Expands to Germany Via Acquisition

The online private-sales retailer Privalia, which operates in Spain, Italy, Brazil and Mexico, is buying Germany’s Dress for Less. Reuters said that according to its sources, Privalia paid between $210 million and $280 million. On Monday, Privalia raised roughly $123 million from private equity firms General Atlantic, Highland Capital Partners, Index Ventures and Insight Venture Partners to fund the transaction, which also included debt and shares. Together, Privalia is forecasting that they will achieve triple-digit revenue growth this year to around 400 million euros. In December, eBay purchased Germany-based brands4friends for $200 million.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald