Monday, August 17, 2015

Zulily Acquired By QVC For $2.4 Billion

Seattle-based Zulily and television shopping network QVC said this morning that QVC will pay approximately $2.4 billion to acquire Zulily. According to Liberty Interactive Corp., QVC's parent company, it will pay $18.75 per share for Zulily. Zulily offers up special deals and products aimed at mothers and young families, including clothing, toys, gifts, and more. Zulily founder and CEO Darrell Cavens will continue to head up Zulily, as will the rest of the company's executive team. Zulily was founded in 2009, and had its IPO in 2013.