Less than a year after once-hot flash sales site Ideeli was acquired by Groupon in a fire sale, competitor Vente-Privee USA said it was closing its doors at year’s end. Ventee-Privee USA was a joint venture between American Express and flash sales pioneer Vente-Privee France. “Both companies decided that given the road to profitability … it was time to focus on other priorities,” an American Express spokeswoman said. Another flash sales site, Rue La La, has recently been talking to potential acquirers, its chairman confirmed in an onstage interview at a recent retail conference. Fortune first reported news of Vente-Privee USA’s planned shutdown.
This article originally appeared on Recode.net.
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