Shares of Zulily are to begin trading this morning after the Seattle-based daily deals site priced its IPO at $22 per share, raising $140 million for the company. We’ll be closely following the stock market action today on GeekWire, so check back for reports.
But before we get into the meat of this offering, check out the awesome photo above of Zulily CEO Darrell Cavens’ 5-year-old son pushing the button to begin trading on Nasdaq this morning.
What an amazing honor.
Zulily’s IPO has been warmly greeted by Wall Street thus far, with the company boosting the IPO price range twice, signaling strong demand.
The daily deals site, rightly so, occasionally gets lumped in with the likes of Groupon and LivingSocial. But Zulily has very quietly built a revenue powerhouse by selling kids and baby gear to busy moms.
MORE ON ZULILY’S IPO
Q&A: CEO Darrell Cavens on Zulily’s IPO and its future as a public company
The IPO also will make the founders fabulously rich, since they are selling shares as part of the offering. Both co-founders also will retain a huge stake in the company. Co-founder and chairman Mark Vadon will maintain 31.4 percent of the voting power after the offering, while CEO and co-founder Cavens will have 21.6 percent. Venture capital firm Maveron will own 22 percent.
Not bad.
Zulily plans to trade under the ticker symbol ZU. We’re planning to interview Cavens this morning, so let me know if you have any questions for the entrepreneur.
Update: Here’s our interview with Cavens.
