The e-commerce craze that started in late 00’s with ThePoint.com and Groupon quickly spread throughout the world, and in the Nordic & Baltic region. Startups such as Cherry Media were quickly established and started fighting for the local market share. However, around the same time a similar e-commerce boom was happening around “members only” shopping.
One of the first and leading players in this space was Vente Privee, a French company that started in 2001 but was expanding internationally starting from 2007 and now has a turnover of over one billion euro. Similarly, there was Gilt from the US, which is now a company with more than 1000 employees and is reportedly looking to IPO.
Which makes our region seem to have been left out, until now. Ooolala, a company based in Estonia decided to introduce this type of members-only flash sales to the Nordic and Baltic region and started in Estonia in 2012.