Gilt Groupe

Gilt Groupe, Inc. Announces New Growth Capital Investment Company Receives Backing from General Atlantic, Matrix Partners NEW YORK, NY, August 11, 2009 – Gilt Groupe, Inc. today announced that the company has closed a series C-round stock financing of $43 million with General Atlantic and Matrix Partners. Global growth investor General Atlantic led the round and Matrix Partners, which led the company’s A and B rounds, also participated. The new financing will be used to secure Gilt Groupe’s position as US market leader in online flash sales, an ecommerce model that has seen rapid growth in recent years. Since its launch in November 2007, the company’s flagship property at Gilt.com has built a passionate consumer following with daily flash sales of luxury and designer goods at members-only pricing. The company has quintupled its membership in the past year, with 1.3 million registered members in the US and more than 200,000 on its five-month-old Japanese site. Company revenue for calendar year 2009 is expected to be in excess of $150 million. “At General Atlantic, we look to partner with great management teams to strengthen and propel exceptional companies to their next phase,” said managing director Anton Levy, who is joining the Gilt Groupe board in connection with the financing. “We are very excited about the opportunities we see with Gilt Groupe. Its passionate customer base and impressive growth speaks to the strength of the business model, even in tough economic times, and validates our decision to invest in the company.” “We couldn’t be happier that General Atlantic has chosen to invest in Gilt Groupe, and look forward to working with Anton Levy and the GA team,” said Susan Lyne, CEO of Gilt Groupe. “The company’s impressive track record and investment philosophy make them ideal partners and a valuable resource as we execute on our aggressive growth plan.” Gilt Groupe plans to leverage its successful private sale model with new category launches targeting aspirational and enthusiast consumer segments. This month, the company will launch Gilt Fuse, a contemporary fashion site for younger members, followed by a vacation travel site. As a result, Gilt Groupe expects to host over four thousand sales in 2010, up from fifteen hundred in 2009. “We continue to be impressed by Gilt’s performance and the value it provides to consumers and brand partners alike,” said Nick Beim, general partner of Matrix Partners and a director of the company. “Our additional investment reaffirms our confidence in the company’s strategic plan and our commitment to the company’s success.” “Just 20 months after its launch, Gilt is succeeding beyond all expectations and the opportunities going forward are vast,” said Kevin Ryan, Chairman of Gilt Groupe, Inc. “The addition of General Atlantic as a partner and the continued support of Matrix cements our ability and resolve to pioneer the category and become one of the leading ecommerce companies in the world,” said Kevin Ryan. About Gilt Groupe Gilt Groupe is a leading event-based ecommerce company targeting customers in the US and Japan. Gilt has over 1.5 million registered users worldwide, maintains 400 designer brand relationships, and holds more than 30 sales per week across a broad range of categories. It generates revenue through online flash sales of high-end branded goods at members-only discounts of up to 70%. Gilt Groupe was launched in November 2007 by Alexis Maybank, an early employee of eBay, Alexandra Wilkis Wilson, formerly of Bulgari and Louis Vuitton, and Kevin Ryan, former CEO of DoubleClick. Susan Lyne, former CEO of Martha Stewart Living Omnimedia, was appointed CEO of the company in September 2008. Headquartered in New York City, Gilt Groupe currently employs a staff of 240 people. More information about Gilt Groupe membership can be obtained by emailing the company at membership@gilt.com or by visiting www.gilt.com. About General Atlantic GENERAL ATLANTIC is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, GA manages approximately $13 billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto, London, Düsseldorf, Hong Kong, Beijing, Mumbai and São Paulo. For further information and a listing of GA's public and private portfolio companies see www.generalatlantic.com. About Matrix Partners Matrix Partners is an early stage venture capital firm, which fosters long-term partnerships with entrepreneurs and works closely with them to help build significant, industry-leading technology companies. The firm has generated stellar returns over three decades and has delivered several of the industry’s top performing funds of all time. Matrix Partners has offices in Massachusetts, Silicon Valley, India and China. Matrix Partners has been fortunate to be a part of the creation of game-changing companies such as SanDisk (Nasdaq: SNDK), Veritas Software (Symantec), Starent Networks (Nasdaq:STAR), Openwave (Nasdaq:OPWV), Aruba Networks (Nasdaq: ARUN), Netezza (NYSE: NZ) and JBoss (Red Hat). ### Contacts: Christian Leone Gilt Groupe, 646.929.6752 christian@gilt.com Pat Hedley General Atlantic 203-629-8658 phedley@generalatlantic.com Caroline Gentile Kekst and Company 212-521-4800 caroline-gentile@kekst.com