Zulily, a local company that caters to moms, kids is going public
SEATTLE -- Zulily, the 3-year-old Seattle company that offers daily deals for moms and kids, is going public.
Zulily made it official this week, filing with the Securities and Exchange Commission, the Puget Sound Business Journal (PSBJ) reported.
The popular company's website describes Zulily as offering "daily deals for moms, babies and kids. Each morning Zulily offers a fresh selection of hand-picked quality children's apparel, women's apparel, toys, infant gear and home decor -- all at an average of 50% off."
Zulily raised eyebrows last year when the company raised $85 million from venture capital firm Andressesn Horowitz, and boasted a $1 billion valuation, PSBJ reported. According to the SEC filing, Zulily has more than 2.2 million customers who have purchased at least one item in the past year.
CEO Darrell Cravens said the company plans to stay "obsessively focused on mom." Moms have said that they didn't want to buy the same T-shirts and products that all the other kids have, that they want to have something special and unique, and that's what Zulily strives for, Cravens said.