Daniel and Michael Broukhim started with a free lifestyle email and a hunch that people would pay for a box of full-size stuff four times a year. A decade later, millions of members and a quiet pet-box acquisition suggest the hunch was right.
Privalia turned surplus stock into appointment shopping. Now, under Brazilian ownership, the flash-sale pioneer is trying to become something larger without losing the thrill that made 20 million people sign up.