Rue La La

Rue La La was sold multiple times at declining valuations: $350 million in 2009 to GSI Commerce, which was sold to eBay, which sold it to Kynetic in 2013 for an undisclosed (lower) amount. The flash sale site faced the same pressures as Gilt: competitive saturation, brand direct sales, and customer acquisition costs that exceeded lifetime value. Rue La La survives but at a fraction of peak expectations, demonstrating that even first-mover flash sale sites couldn't build defensible positions.