Dive Brief:

• Flash-sales retailer Gilt Groupe snagged $50 million in a funding round led by its investor General Atlantic, reports Re/code. The company has now raised some $300 million since its 2007 launch.

• There’s been talk of an IPO for Gilt for years at this point, but the site has yet to see consistent growth and profits and isn’t ready for that next step, the company said.

• The retailer will use the additional funding to increase marketing and expand internationally.

Dive Insight:

Gilt Groupe has been talking about an IPO for quite a while now, and even hired Goldman Sachs for the move to happen late last year. But the flash-sales area is proving tricky, with even flash-sales darling Zulily taking on water. Gilt is not fulfilling its early promise, with both steady profits and steady growth out of reach.

“What we’ve always said is [an IPO is] likely at some point,” Gilt spokeswoman Jennifer Miller told Re/code, “but two things need to happen: We need to show consistent growth and profitability and market conditions have to be right.”