Seattle Startup Zulily’s Valuation Reaches $1 Billion Dollars

Zulily,Seattle startup,startup,startups, billion dollar valuation,square,foursquare, instagramBack in September we brought you this interview with Zulily co-founder Darrell Cavens. Zulily is an online marketplace featuring daily deals for kids,mom’s and women. The company started out with just kids stuff and then expanded and started offering women’s clothing and accessories along with housewares.

It was announced on Thursday that the Seattle based startup has raised $85 million dollars from Andreessen Horowitz, one of the top valley venture capital firms that holds interests in companies like Instagram and Skype.

Jeff Jordan the former CEO of Open Table and partner at Andreessen Horowitz, characterized Zulily as an example of “e-commerce 2.0″ in a blog post. ┬áHe also said that Zulily was part of a renaissance in innovation among e-commerce players.

That wasn’t all that attracted Andreessen Horowitz to Zulily. The company’s founding team that’s already had tremendous success in the e-commerce arena in a niche market. Mark Vardon and Darrell Cavens were also the team behind Blue Nile which is the largest online retailer of certified diamonds and other fine jewelry. Jordan also cited the fact that Cavens was the head of both technology and marketing, ” a combination of functions I had never encountered before as an internet executive”, he wrote in the blog post.

Zulily has been very successful in carrying goods from lesser known designers who lacked distribution and then spun it into a business with over 10 million customers to date.

Last year Zulily raised $43 million dollars at a valuation of $750 million dollars. Although they didn’t report a valuation with today’s round, Business Insider quotes Fortune’s Dan Primack valuing the company at $1 billion dollars. ┬áThis puts Zulily in the same company as other startups like Square, FourSquare and Airbnb.

Linkage:

Check out Zulily here

Here’s our interview with Zulily

Source: BI

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