Bluefly

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Bluefly, Inc
Type Public (NASDAQBFLY)
Founded 1998
Headquarters File:Flag of the United States.svg New York, NY, USA
Key people Melissa Payner, President, CEO
Employees 87[1]
Website www.bluefly.com

Bluefly, Inc.. (NASDAQbfly) is an American electronic commerce company based in New York, New York. As one of the leading fashion and lifestyle e-commerce websites, Bluefly Inc, has grown rapidly since its inception. The fashion site often features such designers as Marc Jacobs and Diane von Fürstenberg at discount prices.

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Name

The name Bluefly was born from the idea that web businesses should be fast and willing to change direction. And so the‘fly’ concept was born. The color blue was used because it started with the letter "B", and at the time, the portals alphabetized their apparel departments. Not coincidentally, at the time the company was named in 1998, Bluefly itself was evolving rapidly. Its predecessor company, Pivot Rules, Inc., sold its only asset, a golf apparel company, Pivot Rules. All that was left in the public company, was cash, a few energized employees and an idea to build an online retailer of discounted designer clothing. And, true to the spirit of its name, Bluefly was built in one summer. [2]

Finance

Bluefly.com is owned by Bluefly, Inc. Bluefly is a publicly traded company (NASDAQ SmallCap: BFLY). The company had its initial public offering on May 21, 1997. In addition to its public offering, Bluefly has raised over $100 million from investors including George Soros and Peter Lynch. [3]

Lawsuits and Legal Proceedings

  • In October 2009, Bluefly was accused of infringing three patents owned by Charles E. Hill & Associates, Inc. in a lawsuit filed in the Eastern District of Texas.[4]

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