An overnight success story?
Well, that’s not too far of a stretch when considering everything that Zulily has accomplished since it was founded four years ago by former Blue Nile execs Mark Vadon and Darrell Cavens. The fast-growing Seattle daily deal site filed to raise up to $100 million in an IPO today, planning to trade under the ticker symbol “ZU.”
The company’s growth has been nothing short of amazing, reaching $331 million in annual revenue last year. As we pointed out earlier today, that makes Zulily bigger than Twitter in terms of annual revenues.
Zulily didn’t get their on its own, using venture capital from the likes of Maveron, August Capital, Andreessen Horowitz and others to get the business off the ground. As we pointed out earlier, co-founders Mark Vadon and Darrell Cavens were able to hold on to more than 50 percent of the voting power of the stock, with Vadon owning 30.4 and Cavens holding 20.9 percent.
Now, the folks over at PitchBook have looked at the company’s fundraising efforts over the years. The company’s last round of funding valued Zulily, which boasts 2.2 million active customers, at just over $1 billion. Interestingly, as All Things D points out, Maveron already cashed out a portion of its shares last year for $32.5 million, as did Cavens who made $10 million by selling some of his shares to venture investors. Where will the public market value Zulily when it ventures onto the Nasdaq?
In cased you missed it, here’s some of the comparative analysis that GeekWire’s Todd Bishop put together as it relates to Zulily, which may very well be the fastest-growing technology company we’ve ever seen in Seattle.
