In its second-largest acquisition, Amazon buys the company for $970 million.
The consumer electronics retailer offers daily deals in various product categories.
Consumer electronics seller Newegg Inc. today began offering daily deals on a new web site, NeweggFlash.com. The offers include limited-time discounts of 30% or more on products in myriad categories, including apparel, makeup, housewares and jewelry, Newegg says. It plans to have five to 10 deals on the site per day, with each lasting for four consecutive days, a spokeswoman says.
Newegg is No. 14 in the 2013 Internet Retailer Top 500 Guide.
“We’re thrilled to launch NeweggFlash and join in on the flash-sale phenomenon,” says Soren Mills, chief marketing officer at Newegg. “Newegg is proud of the deep relationships we’ve built with our vendor partners over the years. It’s these relationships that allow us to offer very compelling deals on NeweggFlash and give us an edge over competing flash-sale sites.”
In addition to selling electronics, the retailer since 2010 has operated an e-marketplace for merchants selling in various categories. It launched a shipping program for those merchants last month.
While some of the daily deals will come from Newegg's inventory, others will come from its marketplace sellers and other fulfillment vendors, the spokeswoman says.
While Newegg dives into flash sales for the first time today, private kids’ and moms’ apparel e-retailer Totsy.com has ended its four-year run in the business. It will sell its remaining assets to clothing and beauty products retailer Modnique Inc.