zulily, an e-commerce site offering daily deals on apparel for moms, babies and kids, announced terms for its IPO on Friday. The Seattle, WA-based company plans to raise $196 million by offering 11.5 million shares (45% insider) at a price range of $16 to $18. At the midpoint of the proposed range, zulily would command a fully diluted market value of $2.2 billion.
zulily, which was founded in 2009 and booked $567 million in sales for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol ZU. zulily initially filed confidentially on August 9, 2013. Goldman Sachs, BofA Merrill Lynch and Citi are the joint bookrunners on the deal.
