Daily Deals Website Zulily Raises $85 Million Led By Andreessen Horowitz
Zulily is a Seattle-based daily deals company that has raised $85 million in VC funding. The company plans to use the funding to enhance their abilities to sell books, toys, and clothes for babies and kids. Zulily has hit 10 million members and many of them get a daily e-mail with discounts on products. Andreessen Horowitz led the round of funding and now Zulily has a total of $138 million in funding. Last year in August we reported that Zulily had raised $43 million.
“Zulily is all about moms—in under three years, we’ve seen tremendous growth combined with the loyalty and passion of our customers which inspires us to do more every day,” stated Zulily CEO Darrell Cavens. “The vast majority of purchases come from repeat customers and we need to continue to surprise and delight them. Additional funding will allow us to expand more quickly and continue to enhance the experience for today’s busy mom.”
After Zulily’s $43 million round of funding last year, it was reported that the company valuation was set to around $1 billion.
Zulily is one of the “fastest growing businesses” that Andreessen Horowitz has encountered and nobody from the VC firm is joining the board. Zulily has around 600 employees in Seattle, Washington; London, England; Columbus, Ohio; and Reno, Nevada. Mr. Cavens founded Zulily with former Blue Nile CEO Mark Vadon 3 years ago.
[GeekWire]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry