Shares of online retailer Zulily soar 88 pct in debut

Friday, 15 Nov 2013 | 11:36 AM ET

Nov 15 (Reuters) - Shares of Zulily Inc, an online retailer of women and children's clothing, rose as much as 88 percent in their market debut, valuing the company at about $5.04 billion.

The Seattle-based company raised $253 million after its initial public offering was priced at $22 per share, well above its expected price range of $18-$20.

Zulily's shares opened at $39 and rose to $41.32 on the Nasdaq on Friday.

The company sold 6.4 million of the 11.5 million class A shares offered, while the rest came from selling stockholders.

Zulily sells its merchandise in so-called flash sales, where a website offers products at heavy discounts for a day.

Goldman Sachs was the lead underwriter of the offering.

(Reporting by Neha Dimri in Bangalore; Editing by Don Sebastian)

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