ZULILY GETS A BAILOUT: Gets sold for $18.75 after going public at $22 a share
Aug 17, 2015, 17:39 IST
Zulily is getting acquired.
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In a statement Monday, Liberty Interactive Corporation announced that it is buying the company for $18.75 per share. That's about 15% less than its IPO price of $22 per share.
On Friday, Zulily closed at $12.57.
In the statement, Liberty Interactive Greg Maffei said, "We are excited for zulily to join the Liberty family. Darrell, Mark and their team have built an impressive business around entertainment, discovery and value to the customer, which fits perfectly with the QVC philosophy. Combined under Liberty, we have an incredible opportunity to delight shoppers from the TV to the Internet."
The stock is down 46% year-to-date, and 66% over the past year.
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More to come ...