We’ve been hearing rumors for weeks now about Zulily’s insane growth curve and aspirations for bigger offices. Now, word comes that the company — which features daily deals for baby and kid’s products — has secured a massive chunk of office space in Seattle’s Sodo neighborhood.
The company plans to take over 80,000 square feet of office space in the Cobalt building south of the sports stadiums. The Seattle Times reports that the new digs will nearly triple the company’s current office space, and will have enough room to accommodate as many as 400 employees.
Earlier this month, Zulily hired Michael Vernon — the former chief financial officer at Big Fish Games and aQuantive — as CFO.
Zulily has been pretty stealthy in recent weeks, with CEO Darrell Cavens declining to discuss growth prospects or employee numbers in an interview with GeekWire earlier this month. (We’ve heard that the company now has about 135 employees and an estimated revenue run rate of more than $100 million). Perhaps Cavens and crew want to stay under the radar before sparking a new group of rivals in the competitive daily deal arena.
Zulily was created by Cavens and Mark Vadon, both of whom held top executive positions at Seattle online jewelry retailer Blue Nile.
According to the Times’ story, the Sodo facility will be renamed the Zulily Building with a move-in date slated for later this year.
Matt Walters, a commercial real estate broker at Cushman & Wakefield, said the deal signals continued strong demand for Seattle’s Pioneer Square/Sodo neighborhoods among tech clients.
“Within the last year we’ve seen Isilon, Nuance, and Blue Nile all choose to either relocate or stay in that end of town,” said Walters. “We also see the slight uptick in demand prompting some developers to bring back discussions on some of the Stadium District Development plans as continued growth for the technology sector south of the city.”
Zulily offers steep discounts on high-end clothing and toys for babies and kids, featuring specialty retailers such as Mud Pie, Hype, KoKo and others. The company raised $6 million from August Capital and Maveron last summer, adding to a $4.6 million round shortly after it was formed in 2009.
UPDATE: Zulily’s Cavens tells GeekWire that the company simply needed space to grow.
“I am a big believer in having teams together, and that having a single facility that we can grow into and allow us all to collaborate together adds value,” he said. “It’s a great space with a good feeling to the space, and this move will give us room to expand for the foreseeable future without needing to move again.”