12 November, 2013
category: Global markets
Zulily operates a flash sales site for apparel, shoes, toys and décor for moms, babies and kids. The company’s brands include Corky’s Kids, Crocs (CROX), Disney (DIS), Dr. Seuss, Lego and Skechers (SKX).
Growth has been strong for Zulily. From 2010 to 2012, sales spiked from $18.4 million to $331.2 million. In fact, during the first nine months of 2013, the company achieved profitability.
ZU plans to issue 11.5 million shares at a price range of $16 to $18. The lead underwriters include Goldman Sachs, BofA Merrill Lynch and Citi (C).
Darell Cavens, CEO and Mark Vadon, Chairman, jointly own over a half of outstanding shares.
August Capital and Andreessen Horowitz jointly own 7% of outstanding shares. Trinity Ventures own 2.6%, Meritech owns 2.4%. Maveron Capital owns 23.5%.