When Bed Bath & Beyond purchased One Kings Lane in June, it stated that the price was “not material.” As Business Insider reports, government documents recently made that price clear: $11.78 million. One Kings Lane was founded in 2009 and raised upwards of $200 million in venture capital funding. In early 2014, it was valued at more than $900 million.
One Kings Lane
Other flash-sales sites have also sold for considerably less than their previously appraised worth, including Gilt Groupe, which was estimated at over $1 billion but sold for $250 million earlier this year, and home decor site Fab.com, which was valued at $1 billion in 2013 and sold to an Irish manufacturer for $15 million two years later.