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Zulily stock pops big after IPO

November 15, 2013: 12:16 PM ET

Zulily shares pop big on first day of trading, generating huge returns for its venture capitalists.

FORTUNE -- Shares in e-commerce company Zulily (ZU) have popped more than 75% in their first day of trading, following an IPO that raised $253 million. The Seattle-based company priced 11.5 million shares at $22 a piece (above its expected range), and opened trading at $39.40 per share. As of this writing, they were sitting at $38.80.

The bonanza's biggest winner is venture capital firm Maveron, which invested just $6 million into Zulily (beginning in 2009). At $38.80, that total stake is now worth a whopping $1.04 billion, including nearly $58 million worth of shares sold during the IPO.

Other large holders include August Capital (7.4% pre-IPO stake) and Andreessen Horowitz (7.3%), Trinity Ventures (2.6%), Meritech Capital Partners (2.4%) and Greenspring Associates (1.6%).

RELATED: Why the tech press is ignoring Zulily's huge IPO

Zulily reports $155,000 million in net income on $438 million in revenue for the first nine months of 2013, compared to a $13.6 million net loss on $202 million in revenue for the year-earlier period.

Goldman Sachs, BofA Merrill Lynch and Citigroup served as lead underwriters for the IPO.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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