Julien Sorbac studied at the European Business School in Paris, where he became friends with Jacques-Antoine Granjon. In 1985 the two started Cofotex, a stock-clearance business selling end-of-line clothing in Paris.
Cofotex funded the next step. In 1996 Granjon bought the former printing plant of Le Monde in La Plaine Saint-Denis, which later became the company's headquarters.
On 30 January 2001 vente-privee.com launched, with Sorbac, Granjon and Mickaël Benabou as co-founders. The idea was members-only, time-limited online sales that let brands clear stock without damaging their image. A 2004 sale for a well-known lingerie brand proved the model.
Summit Partners bought 20% in 2007, and Qatar Investment Authority became a shareholder in 2014. The company took the name Veepee in 2019. Its revenue was €3.2 billion including VAT in 2024.