Zulily Raises $85 Million: Hope for Daily Deals?
Zulily, a daily-deals site for mothers, babies and kids, recently raised $85 million in a Series D round of funding led by Andreessen Horowitz. The site now boasts 10 million daily users and appears to be bucking the downward trend spearheaded by Groupon and LivingSocial. Zulily, which recently launched an iPad app, gets 30 percent of its sales on mobile devices. Its sales are announced in the mornings via email and last about 72 hours. It also incorporates aspects of flash-sales sites like Gilt. Zulily previously raised $53.6 million at a reported $700 million valuation. Groupon, meanwhile, is struggling in the limelight of public attention. While its third-quarter earnings were disappointing, the company’s liquidity is fine for the time being. In other words, bankruptcy doesn’t seem imminent. (GigaOM, Seeking Alpha)
