August 2015 / Jersey Shore Sun Blog
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Monthly Archives: August 2015

  • QVC To Acquire Billion Dollar Online Shopping Site Zulily

     

    Jersey Kids Jersey Kids® Products are a Favorite on Zulily Offers.

    Less than two years after going public, Internet retailer Zulily Inc. is selling itself for a fraction of its post-IPO high as the flash-sale strategy it helped pioneer has lost its allure among consumers.

    The Seattle-based company agreed to be acquired by Liberty Interactive Corp., the parent of home shopping network QVC, in a cash-and-stock deal that values Zulily at around $2.4 billion.

    Zulily shares surged 49% on Monday to $18.74, but Liberty is buying the company at a discount to its initial public offering price.

    The reason for the decline has been a reversal in Zulily’s fortunes. Founded in 2010 as a retailer of toys and children’s clothes, Zulily grew to top $1 billion in annual sales last year as it expanded into adult apparel and home goods.

    Read more from The Wall Street Journal..

     

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