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VC-backed Zulily aims at $2.2bn valuation after pricing IPO

5 Nov 2013

pram-baby-strollerVenture capital-backed daily deals site Zulily could reportedly be worth up to $2.2bn after the parent and child-focused business prices its IPO at between $16 and $18 per share.

AltAssets revealed last month that the firm had filed to raise $100m in its IPO after three years of growing demand.

Maveron Equity Partners, which made a $4.6m investment in the business as an early-adopter in 2009, currently holds a 23.6 per cent stake, with Series B backer August Capital on 7.5 per cent and Andreessen Horowitz on 7.3 per cent.

The Wall Street Journal reported that Maveron plans to sell 2.63 million shares, while August and Andreessen expect to sell about 800,000 shares each.

Andreessen Horowitz led an $85m Series D round for the business last November, 15 months after a $43m Series C financing round led by later-stage venture investor Meritech Capital Partners.

The investment by Andreessen reportedly valued the business at $1bn.

Goldman Sachs is leading a group of six underwriters which also includes Merrill Lynch, Pierce Fenner & Smith and Citigroup Global Markets.

Zulily attempts to help its customers find new products through limited-time curated sales, and has sold more than 42 million items since inception.

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