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Seattle-based private sales site Zulily, which is like a Gilt Groupe for moms buying kids’ gear, has raised $43 million in a round that values it at a whopping $750 million.
John Cook of Geekwire reports that Zulily is on track to pull in $150 million in sales this year. That’s pretty remarkable given that the company didn’t exist two years ago.
It’s also got more than 4 million members — up from 1 million just a few months ago.
The company was cofounded by former Blue Nile CEO Mark Vadon. If the valuation report is correct, it would make Zulily more valuable than his former company, which had sales of close to $400 million last year. Blue Nile is publicly traded and has a market cap around $475 million.
The round was led by Meritech Capital Partners, and Meritech’s Craig Sherman will join the board.
Now, see who else is on the list: 14 Hot Seattle Startups You Need To Watch.
Article source: SAI http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/fUIzQlP5Toc/seattle-daily-deals-site-zulily-scores-huge-round-at-750-million-valuation-2011-8