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KupiVIP Eyes New York IPO

Online retailer KupiVIP wants to hold an initial public offering in New York within two years that could raise more than $120 million, its founder and chief executive said Monday.

"We have already made quite good progress, and [an IPO] is likely to take place within two years. We need to grow to reach a size that allows us to do a round [of funding] of 120 plus [million dollars]," KupiVIP's Oskar Hartmann said. The online shopping club, which sells discounted fashion goods, is looking to float shares on a New York stock exchange, he added.

Launched in October 2008, KupiVIP has attracted $86 million in funding to date from investors.

(Reuters)

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