Gilt is looking for a successor to the chief executive.

Gilt Groupe ("Gilt"), the US luxury e-commerce and Flash-purchase website, is looking for a successor to chief executive Kevin Ryan Kevin Ryan, and hopes the new chief executive will help the company complete the listing.

Gilt's search for chief executive comes at a time when Ryan led the five-year-old Internet company into a new business. By discounting women's luxuries, the gilt of membership has grown rapidly, giving the company a 1 billion-dollar valuation last year when it financed it. But after entering the men's clothing, local services and food business, Gilt did not get any success.

The gilt board decided two months ago that Ryan should step down as chief executive of the company and hope to find an outsider with E-commerce and operational experience to lead the company to an IPO in the next 18 months, sources said.

Ryan is a famous technology executive and investor who once served as DoubleClick chief executive, and the company was eventually acquired by Google (Weibo). Ryan and DoubleClick partner Dwight Meriman (Dwight Merriman) jointly funded a number of innovative companies, including the Web news site Business Insider and business software provider 10gen.

Sources said that Ryan believed that other venture capital activities took up too much of his time, so that he could not invest more energy in the gilt business. It is reported that the search for Gilt's next chief executive is expected to be completed early next year.

Gilt the $1 billion trillion in a round of funding last year. The company's revenue in 2011 was only 370 million dollars. Although Gilt has not released financial data as a private company, sources say Gilt is expected to make ends meet this year, with revenues expected to break $600 million trillion.

Gilt plans to submit an initial public offering from the fourth quarter of 2013 to the fourth quarter of 2014. Gilt initially focused on luxury 36-hour "flash shopping", has now expanded its business to ordinary price goods, and to enter the food and travel market. This may cause the brand to be adversely affected. Sources said that Gilt is also seeking to sell the travel services business Jetsetter, which has a net revenue of 10 million to 15 million dollars a year.

Gilt has interviewed 6 candidates, the source said, and the company is looking for someone with experience in the Internet business market. Gilt currently has about 1000 employees. Earlier this year, gilt cut the staff of the local commercial website Gilt city and closed the men's fashion Business Park & Bond.

After stepping down as chief executive, Ryan will continue to be chairman of the company and devote half of his time to Gilt's work. He also focuses on his other startups, including Business Insider and 10gen. Pick up the kid. At present, the gilt spokesman has not been able to set this message.