Friday, November 15, 2013

Zulily Surges In IPO

Seattle-based Zulily surged in its IPO this morning on the NASDAQ, and was up nearly 70% in trading on its first day on the exchange. The company--which is listed as ZU--priced its IPO at $22 per share last night, but was trading as high as $41.32 in initial trading this morning. Zulily--which was founded by Darrell Cavens--is an e-commerce, flash sales sites focused on children's products. The company priced above its inital offering range of $18.00 and $20.00 per share. Zulily was backed by Maveron, August Capital, Andreessen Horowitz, Trinity Ventures, Meritech Capital Partners, and Greenspring Associates.