Zulily, an online retailer that offers discounted goods, plans to raise up to $100 million from an initial public offering of its common stock.
The Seattle company, whose core customer is mothers, did not disclose in a filing with the Securities and Exchange Commission how many shares would be in the IPO or what the projected price range was.
Zulily Inc. said that it plans to use the offering's net proceeds for working capital and other general corporate purposes. It may also use some of the proceeds for acquisitions of other businesses, products or technologies.
Zulily expects to list its shares on the Nasdaq Global Select Market under the "ZU" ticker symbol.
Zulily launched its namesake website in January 2010. The company said that it has sold more than 42 million items to over 2.9 million customers from January 2010 through June 30.
In fiscal 2012 Zulily reported sales of $331.2 million. This compares with 2011 sales of $142.5 million.
© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.