Zulily Reports $400M In 2013 Revenue Thus Far
Zulily is a discount e-commerce website for moms that filed for a $100 million IPO earlier this month. The company has reported revenues of $439 million in the first nine months of the year at 116% growth year-over-year, according to an amended S-1 filing. Zulily’s net income dropped from $2.4 million in the first 6 months of the year to $200,000 through the first 9 months though. Zulily has also signed a letter of intent on a new $50 million revolving credit line.
Zulily was founded in 2009 and they use a flash sales model where products have deep discounts for a limited period. Zulily competes against companies like Gilt Groupe, Fab.com, Groupon, and LivingSocial. Zulily has 2.2 million active customers that have made at least one purchase in the last year. This is almost double their active customer count compared to the year earlier.
Zulily raised $85 million in funding led by Andreessen Horowitz this past November with a $1 billion valuation. The company has a $1.7 billion valuation on their equity as of right now.