By Invitation Only: How We Built Gilt And Changed The Way Millions Shop

On a warm September night in 2002, former acquaintances Alexis Maybank and Alexandra Wilkis reconnect at a mixer for new students at Harvard Business School. Alexis had just ended a four-year run at eBay during the dotcom boom and bust. Alexandra had spent three years as an investment banker at Merrill Lynch. Now, they were entering the country’s top training ground for future Titians of Wall Street and the Fortune 500. Little did either suspect that five years later, they’d become famous in fashion and technology. Gilt Groupe, launched in 2007 by Alexis, Alexandra, and three colleagues, is one of the most fascinating startups of recent years, with a valuation of more than $1 billion. It all began with a bold idea to bring sample sales online and change the way millions shop. Alexis and Alexandra describe how they created a website that could potentially change retail, making shopping competitive, addictive, urgent, and thrilling. They faced challenges in convincing designers and brands to support an online sample sale platform and had to manage the needs of suppliers, engineers, marketers, and investors. The story includes their efforts to expand into new categories, the dark days of the recession, and their perseverance in turning their vision into reality.