Willkie advised Warburg Pincus and Slickdeals on the transaction.
Global private equity firm and longstanding Willkie client Warburg Pincus announced that funds affiliated with the firm have sold Slickdeals, the largest consumer-driven deal sharing platform in the U.S., to West Street Capital Partners VII, a fund managed by the Goldman Sachs Merchant Banking Division and media conglomerate Hearst.
Founded in 1999, Slickdeals is an online community where 10 million users share, rate and review shopping deals and coupons in the U.S. Through its use of crowdsourcing, Slickdeals has saved members over $5.5 billion by providing a forum for communication and shopping tools through its apps. Since Warburg Pincus' investment in Slickdeals in 2012, Slickdeals has strengthened its management and product teams, solidified the infrastructure of the business and invested in initiatives to expand its audience and grow traffic.
The Willkie deal team was led by partners Steven Gartner, Morgan Elwyn and Manuel Miranda and included counsel Daniel Mun and associate Jonathan Kubek.