There’s another startup worth a billion dollars.Zulily, a Seattle-based daily-deals site for mums and kids, just raised $85 million from Andreessen Horowitz, a venture-capital firm that backed Instagram and Skype.
In a blog post, Andreessen Horowitz partner Jeff Jordan, the former CEO of OpenTable and president of eBay’s PayPal division, called Zulily an example of “e-commerce 2.0.”
Specifically, Jordan praised Zulily for finding a niche where it could successfully compete with Amazon.com, by carrying goods from lesser-known designers who lacked broad distribution.
Zulily also broadened from carrying children’s apparel typically bought by mums to offering women’s apparel and housewares of interest to that customer base. It has attracted 10 million shoppers to date.
A year ago, Zulily raised $43 million in a deal that valued the company at $750 million. The company didn’t disclose its valuation in this round, but Fortune’s Dan Primack says his sources tell him the company’s now valued at $1 billion.
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