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Everything about Zulily throughout its short history has been fast, so much so that employees of the Seattle daily deals company often refer to its accelerated pace as “Zulily time.”

Now, the stock of the 4-year-old company, which just began trading Friday morning under the ticker ZU, is starting out with a big bang. Zulily, which priced Thursday afternoon at $22 per share, came out of the gate in a very big way, opening at $39.40. The shares are now settling around $37 per share, up more than 70 percent from the IPO price.

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Shares os Zulily are soaring in early trading Friday. Click on image for interactive pricing.

Zulily has kept a low profile over the years, but the e-commerce company for baby gear and accessories is a revenue powerhouse with annual sales last year of $331 million.

Wall Street appears to like that growth rate, not to mention that it has eked out some profits along the way.

Zulily looks to be the latest successful IPO out of Seattle in the past two years, following in the path of Tableau (May 2013) and Zillow (July 2011).

It was unclear whether the company would be greeted as a Groupon or LivingSocial clone, or perhaps a new type of e-commerce company like Amazon.

The company raised $140 million through the IPO, with insiders also selling a huge chunk of stock as well.

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Comments

  • Thomas Franklin

    How much money does this make for Maveron?

    • johnhcook

      Thanks for the comment. I am working on a story about how much everyone will be worth, but waiting for the markets to close today since the stock is fluctuating.

      Maveron owns 22 percent of the company, roughly 24.6 million shares.

      At the current price of $37.96, that stake is worth $933 million.

      Not bad, huh?

      Also, it is worth noting that Maveron sold 2.625 million shares in the IPO, so it cashed out to the tune of $57 million today.

      I’d say a very, very good day for Maveron!

  • Kevin Foreman

    Congrats to the entire team.

  • Zulily Baffled

    What do these guys do that can’t simply be replicated by Amazon? I clearly must be missing something…it’s a DOD site for hipster parents.

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