Recently, Zulilly, an online deal site, was acquired for $2.3 billion by Liberty Interactive, the parent company of QVC. This was unveiled on Monday in an announcement stating that Zulily would be purchased via a cash-and-stock transaction. The acquisition is estimated to be worth around $2.32 billion.
This deal will amalgamate two entities and give rise to a company that boasts a combined revenue exceeding $10 billion. Notably, it shipped 230 million products worldwide to a strong customer base of 19 million across 85 nations.
This collaboration allows QVC to cater to a younger demographic, which it was previously unable to reach. Meanwhile, Zulily anticipates this association to revive its sales growth, which seemed to falter recently. Despite generating more than $1 billion in sales last year, Zulily’s stock prices have been retreating since February 2014.
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