FORTUNE -- Zulily, a deals site for moms and kids, is putting the finishing touches on a new venture capital round that values the company at approximately $1 billion, Fortune has learned.
Andreessen Horowitz is leading the round, which is believed to be for around $100 million. Some of that money will be used to provide liquidity to early Zulily shareholders. This may be Andreessen Horowitz's second-largest equity investment in a single company, following its recent deal for GitHub.
UPDATE: Zulily put out a press release just after 5pm ET this evening. The round is for $85 million. Valuation is not addressed.
Seattle-based Zulily last raised money in August 2011, when it secured $43 million at a post-money valuation of approximately $750 million. Existing venture capital backers include August Capital, Greenspring Associates, Maveron, Meritech Capital Partners and Trinity Ventures.
Representatives of Zulily and Andreessen Horowitz declined to comment.
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