Zulily, an online deals website, was recently bought by Liberty Interactive, the parent company of QVC, for about $2.3 billion. The announcement was made on Monday, stating that the purchase would be done through a mix of cash and stock. This acquisition will bring together both companies, creating an entity with over $10 billion in combined revenue. Together, they have shipped 230 million products globally to a customer base of 19 million people across 85 countries.
For QVC, this deal means they can now appeal to a younger audience that they previously couldn’t reach. On the other hand, Zulily is expecting this partnership to help boost its sales growth, which has been lagging recently, even though the company made over $1 billion in sales last year. It’s worth noting that Zulily’s stock prices have been declining since February 2014.