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Originally published November 15, 2013 at 9:35 AM | Page modified November 16, 2013 at 8:44 AM

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Zulily leaps 71 percent in 1st day as publicly traded company

Zulily's stock surged 71.4 percent in its first day as a publicly traded company.

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FINALLY! A way to buy super cheap crap on the internet. Who says innovation is dead... MORE
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Zulily's stock surged 71.4 percent in its first day as a publicly traded company.

Shares jumped $15.70 to $37.70 at Friday's close.

The initial public offering of 11.5 million shares priced at $22 each, above the projected price range of $18 to $20.

Zulily Inc. offered about 6.4 million shares and certain selling stockholders offered approximately 5.1 million shares. Zulily won't receive any proceeds from shares sold by the stockholders.

The Seattle online retailer raised about $253 million in the IPO.

The underwriters have a 30-day option to buy up to an additional 1.7 million shares.

Zulily said in a regulatory filing that it plans to use the offering's net proceeds for working capital and other general corporate purposes. It may also use some of the proceeds for acquisitions of other businesses, products or technologies.

Zulily, which launched its namesake website in January 2010, had 2012 sales of $331.2 million. That compares with 2011 sales of $142.5 million.

The stock is trading on the Nasdaq Global Select Market under the "ZU" ticker symbol.

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