Wayfair bought another furniture website Birch Lane

Absrtact: August 16, in nearly 10 years, almost no external financing of the U.S. furniture dealers Wayfair to the U.S. Securities and Exchange Commission (SEC) submitted an IPO (initial public offerings) document, ready to go public. The company says it is up to 350 million dollars in financing. The

August 16, in nearly 10 years, almost no external financing of the U.S. furniture dealers Wayfair to the U.S. Securities and Exchange Commission (SEC) submitted an IPO (initial public offerings) document, ready to go public. The company says it is up to 350 million dollars in financing.

The Boston Company operates several home appliances websites, including wayfair.com, allmodern.com and jossandmain.com. The three sites sell furniture and other household items, sometimes with limited time to sell some goods, which is what we call flash shopping.

Last year, the company's total revenue was $916 million trillion, with a net loss of $15.5 million.

Revenues rose 50% in the first half of the year, from $383 million a year earlier to $574 million trillion. However, the company's losses in the first half of the year expanded from $8.3 million trillion in the first half of 2013 to $51.4 million. Wayfair said the loss was mainly due to the company's huge increase in advertising budget to improve brand awareness.

Wayfair CEO Nilagi Shaha (Niraj Shah) and CTO Steve Connie (Steve conine) created CSN Stores in 2002. Before the unification of the Wayfair brand in 2011, the company's stores had expanded to more than 200 cities.

In the same year, the company received 165 million of dollars in battery ventures and other institutions to help them through the transition period. This includes the early transformation of network traffic and brand promotion. Since then, the company has received nearly 200 million dollars in financing, including T. Rowe price 157 million dollars in March this year.

Although Wayfair, the pace of the resumption of operations has been slow. A year ago, Wayfair bought furniture retailer DwellStudio to create a new brand. This year, Wayfair bought another furniture website Birch Lane.

"We plan to continue to expand our existing brand base and may launch new brands in due course," Wayfair said in a filing. ”

Wayfair submitted to the listing of documents from the Electronic business site Zulily listed less than a year. Zulily more attention to the flash-purchase model, the market value at 2.6 billion U.S. dollars. Currently, the market value of the company, which specializes in women's and children's clothing, has reached 4.8 billion dollars.

The company's two founders each held 29% per cent of the firm, with a 11.4% per cent stake in the HarbourVest, with a 7% per cent stake and Battery Ventures holding 6% per cent.

Goldman Sachs is expected to be the main underwriter of the IPO deal. In addition, Merrill Lynch, Citigroup and Allen & Company will also participate in the Wayfair listing. (LI)