# Gilt: Acquired by Hudson’s Bay Company

Gilt Groupe Holdings, Inc. (acquired parent); Gilt Groupe, Inc. (funding announcement) · United States · Online retail

Evidence reviewed Oct 26, 2026. Historical event record.

Hudson’s Bay completed its acquisition of Gilt in February 2016. Its later annual report recorded an adjusted US$237 million cash purchase price, excluding debt.

## Historical private valuation

$1bn · May 2011

TechCrunch’s interview with CEO Kevin Ryan identified a $1 billion pre-money valuation in May 2011.

[TechCrunch (interview with CEO Kevin Ryan)](https://techcrunch.com/2012/12/09/five-years-in-and-profitable-gilt-refocuses-on-new-leadership-an-ipo-in-2013-and-more/)

## Documented event

Acquired by Hudson’s Bay Company · Feb 1, 2016

$237m. HBC’s 2016 annual report, Note 4, records US$239 million at acquisition, reduced by a US$2 million subsequent purchase-price adjustment to US$237 million, excluding debt. The US$250 million announcement amount is a different transaction stage.

[Hudson’s Bay Company (report hosted by AnnualReports)](https://www.annualreports.com/HostedData/AnnualReportArchive/h/TSX_HBC_2016.pdf), [Firsthand Technology Value Fund / SEC](https://www.sec.gov/Archives/edgar/data/1495584/000139834416011039/fp0018563_10k.htm)

## What changed

The buyer’s completed-transaction accounts refine the widely reported US$250 million announcement. HBC initially recorded US$239 million and subsequently received a US$2 million purchase-price adjustment. This record uses a dated 2011 private financing benchmark and does not claim that benchmark was Gilt’s final or highest valuation.

## Timeline

### May 9, 2011 — Growth financing announced

Gilt Groupe announced $138 million of new financing from SoftBank, existing investors and a syndicate of new investors.

[Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

### Jan 7, 2016 — Acquisition agreement announced

A shareholder’s SEC filing records HBC’s agreement to acquire Gilt for US$250 million cash.

[Firsthand Technology Value Fund / SEC](https://www.sec.gov/Archives/edgar/data/1495584/000139834416011039/fp0018563_10k.htm)

### Feb 1, 2016 — Acquisition completed

HBC’s subsequent audited accounts record the completion date and adjusted cash purchase price, excluding debt.

[Hudson’s Bay Company (report hosted by AnnualReports)](https://www.annualreports.com/HostedData/AnnualReportArchive/h/TSX_HBC_2016.pdf)

## Disclosed investors

Historical funding participation; not current ownership or investor losses.

- SOFTBANK Group — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

- General Atlantic — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

- Matrix Partners — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

- Goldman Sachs — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

- New Enterprise Associates — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

- Draper Fisher Jurvetson Growth — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

- Pinnacle Ventures — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

- TriplePoint Capital — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

- Eastward Capital — [Gilt Groupe / PR Newswire](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html)

## Sources

- [Five Years In And Profitable, Gilt Refocuses On New Leadership, An IPO In 2013 And More](https://techcrunch.com/2012/12/09/five-years-in-and-profitable-gilt-refocuses-on-new-leadership-an-ipo-in-2013-and-more/) — TechCrunch (interview with CEO Kevin Ryan); published Dec 9, 2012; accessed Oct 26, 2026; financial reporting.

- [Gilt Groupe, Inc. Announces $138 Million in New Funding](https://www.prnewswire.com/news-releases/gilt-groupe-inc-announces-138-million-in-new-funding-121488889.html) — Gilt Groupe / PR Newswire; published May 9, 2011; accessed Oct 26, 2026; primary source.

- [Firsthand Technology Value Fund 2015 Form 10-K, Note 11: Gilt acquisition](https://www.sec.gov/Archives/edgar/data/1495584/000139834416011039/fp0018563_10k.htm) — Firsthand Technology Value Fund / SEC; published Mar 15, 2016; accessed Oct 26, 2026; primary source.

- [Hudson’s Bay Company 2016 Annual Report, Note 4: acquisition of Gilt Groupe Holdings Inc.](https://www.annualreports.com/HostedData/AnnualReportArchive/h/TSX_HBC_2016.pdf) — Hudson’s Bay Company (report hosted by AnnualReports); published Apr 4, 2017; accessed Oct 26, 2026; primary source.

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