Liberty Interactive Corporation, the parent company of home shopping network QVC, has acquired e-Commerce daily deal site zulily for approximately $2.4 billion. The transaction is expected to be completed in Q4 2015, subject to regulatory approval. Together, QVC and zulily represent combined annual revenues of more than $10 billion, global shipments of 230 million units and a total of 19 million customers across 85 countries.
Zulily, which launched in 2010, sells maternity gear, baby clothes and other products aimed at Millennial mothers. With the acquisition, zulily and QVC Group are positioned to extend their businesses beyond their respective core audiences. For example, QVC will be able to more effectively reach young mothers who love to shop. Because zulily has such a substantial mobile strategy, the company also will be able to accelerate its mobile leadership.