zulily, a flash sales site offering deals on children's apparel and other products for moms, raised the proposed deal size for its upcoming IPO on Wednesday. The Seattle, WA-based company now plans to raise up to $230 million by offering 11.5 million shares (45% insider) at a price range of $18 to $20. The company had previously filed to offer the same number of shares at a range of $16 to $18. At the high end of the revised range, zulily would raise 18% greater proceeds than previously anticipated.
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. It is expected to price during the week of November 11, 2013.
