HBC, owner of Saks Fifth Avenue, spins the department store's website into a separate business after raising $500M from Insight Partners at a valuation of $2B (Lauren Thomas/CNBC)

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Lauren Thomas / CNBC:
HBC, owner of Saks Fifth Avenue, spins the department store's website into a separate business after raising $500M from Insight Partners at a valuation of $2B  —  - HBC, the owner of Saks Fifth Avenue, said it will split the luxury department store's website into a separate business after raising $500 million.

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