Thursday, March 24, 2011

HauteLook Acquisition Completes

Department store firm Nordstrom said this morning that it has completed its acquisition of Los Angeles-based private sales site HauteLook. Nordstrom announced its acquisition of HauteLook on February 17th. Nordstrom paid $180M in stock plus up to $90M in earn out for HauteLook, for a transaction worth $270M. HauteLook was venture backed by Insight Venture Partners, and headed by Adam Bernhard. The acquisition was one of the quickest in Southern California's technology startup world; HauteLook was founded only three years ago, and only just raised its first funding round in June of 2010.