Zulily, a flash sales site for children’s clothing and accessories, is going public today at $US2.6 billion valuation.
As Fortune’s Dan Primack points out, the tech press has largely ignored Zulily’s big day, despite it’s high valuation and the fact that its shares are priced above the IPO range.
Well, Primack is right. This is a pretty big IPO, especially because flash sales sites haven’t been doing so hot lately. (Maybe you’ve heard of Fab and its recent troubles.)
According to Primack, Zulily is slightly profit ble and brought in $US439 million in revenue for the first nine month of the year. That’s up from $US202 million for the same period in 2012. Sounds like a healthy, growing business.
Zulily (ZU) will start trading on NASDAQ later this morning.