Commerce

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

Published on November 14, 2013
by Matt Jarzemsky

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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