Gilt Groupe Co-Founder Steps Down as CEO--Can a New CEO Save Them?
Gilt Groupe was a rapidly-growing pioneer in exclusive online luxury retail when it launched in 2007. But now, in 2012, with so many new, promising players in the e-commerce game, the site is likely under more pressure to compete. Despite rumors that they're struggling, however, the company has been working to expand, expects to turn a profit next year, and is hoping for an IPO--a goal that Gilt Groupe's board must have felt CEO and co-founder Kevin Ryan wouldn't be able to reach.