Zulily stock pops big after IPONovember 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%).
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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