E-Commerce Shopping Site Zulily Prices $253 Million IPO Above Target

Zulily Inc.’s initial public offering priced above the company’s recently raised expectations, indicating strong investor demand for the e-commerce business.

The Seattle company and insiders such as venture-capital firm Maveron LLC agreed to sell 11.5 million shares for $22 each late Thursday, the people said, raising $253 million before the potential sale of additional stock by underwriters. Zulily had raised its price forecast range for the deal Wednesday, calling for the shares to fetch $18 to $20 apiece.

Zulily offers limited-time online sales on clothing and accessories for women, babies and kids. The company sends a daily email and an alert on a mobile application to subscribers. It purchases items from vendors and ships them to buyers after a customer places an order.

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