John Malone’s Liberty Interactive Corp is to acquire Zulily in a cash-and-stock deal valued at $2.4 billion to tap the online retailer’s younger clientele and its strong mobile presence.

Zulily hosts “flash” sales of clothing primarily for women and children, and has Chinese ecommerce giant Alibaba as one of its shareholders.

Liberty Interactive, the media conglomerate which owns home shopping network QVC, is known for investing in a range of digital commerce businesses.

“Zulily’s younger customer demographic, personalisation expertise and ecommerce capabilities will boost QVC,” the companies said.

In the second quarter ended June 28th, about 56 per cent of Zulily’s orders were placed from a mobile device, up from about 49 per cent a year earlier.

Other posts by :

1. EchoStar booms on SpaceX holding
2. Norway wants a satellite constellation
3. Crossroads backs AST SpaceMobile
4. FCC examines SpaceX’s 15,000 sat-constellation plan
5. EchoStar: “Severe uncertainty” led to spectrum sales
6. Netflix gets downgrade on Warner Bros move
7. UK trims Orbex investment
8. Euro-bank sets up €500m space fund
9. Revenue jump forecast for Eutelsat

Categories: Articles, Business, M&A