Another of the Seattle region’s tech titans appears to be headed down the path toward an initial public offering.
Zulily, the daily deals site for moms and kids, has hired investment bankers from Goldman Sachs, Bank of America Merrill Lynch, and Citigroup to advise the company in preparation for a possible IPO, reports Reuters this afternoon, citing anonymous sources.
An IPO for Zulily would follow the public offering by Seattle’s Tableau Software earlier this year.
A Zulily spokesperson declined to comment on the report. The fast-growing company most recently raised $85 million in venture capital financing last November, at a $1 billion valuation at the time. That round was led by Andreessen Horowitz, and it brought total funding to roughly $138 million.
The daily deals industry has fallen from its peak, but Reuters notes that the Seattle company has been able to grow in the difficult world of online “flash sales” by focusing on moms as shoppers, and kids’ clothing.
Zulily, led by CEO Darrell Cavens, a Blue Nile veteran, was founded in 2009 and is currently No. 2 on the GeekWire 200 ranking of the region’s top privately held tech companies.
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