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ThePrivateSales.com raises $5 million from five investors

Bangalore-based TPS Shopping Outlet, which operates ThePrivateSales.com
as an ecommerce platform offering discounts of up to 80 per cent on global
designer brands, has raised $5 million from a set of five companies, reports The
Wall Street Journal. The company however declined to name the investors.

Bangalore-based TPS Shopping Outlet, which operates ThePrivateSales.com
as an ecommerce platform offering discounts of up to 80 per cent on global
designer brands, has raised $5 million from a set of five companies, reports The
Wall Street Journal. The company however declined to name the investors.

The company plans to use the funds to add
categories and launch a similar websites that offers discounts on luxury
fashion. TPS Shopping Outlet is headed by brothers Sunder Gianchandani
(President) and Sajan Gianchandani (Executive Vice President), who have
experience of 17 years in the field of retail and fashion industry.

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