Los Angeles-based HauteLook, the flash sales site run by Adam Bernhard, has been acquired by Nordstrom for up to $270M. According to Nordstrom, it will pay $180M in stock plus up to $90M in earn out over the next three years. Nordstrom said the buy will enable it to participate in the fast-growing private sale marketplace. HauteLook was venture backed by Insight Venture Partners, which just invested $31M in the company in June of 2010. HauteLook had raised somewhere around $41M in total funding. The firm had only been formed over a little more than three years ago, in December of 2009, when Bernhard founded the company.
Top NewsThursday, February 17, 2011
Hautelook Acquired By Nordstrom For $270M