Home Decor Flash Sales Site LuxeYard Raises $3.5 Million in Capital

LuxeYard, a home decor flash sales and group-buying site, has secured $3.5 million in new capital from undisclosed investors. The Los Angeles company is also unveiling a redesigned site that allows members to participate in two new ways: First, members can post photos of items that they would like to purchase at a discount; and second, they can drive prices down by encouraging others to buy the product on social networks. The more people who buy it, the less expensive it becomes. LuxeYard will be competing against Gilt Groupe, Rue La La, One Kings Lane, Fab.com and other similar sites.