Home goods retailer Wayfair files for a $350 million IPO


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Wayfair, a high-growth online retailer of home goods with over $1 billion in sales, filed on Friday with the SEC to raise up to $350 million in an initial public offering. The company operates five e-commerce sites, including Wayfair, Joss & Main, AllModern, DwellStudio and Birch Lane.

IPO proceeds will go toward selling shareholders and general corporate purposes. Wayfair lists Amazon ( AMZN ), eBay ( EBAY ) and Bed, Bath & Beyond ( BBBY ) among its competitors. Two online retailers have gone public in 2014 - JD.com ( JD ) and Jumei ( JMEI ) - and both Chinese companies trade over 50% above their IPO price. Wayfair will join e-commerce giants Alibaba (BABA) and Cnova (CNV) in the IPO pipeline.

The Boston, MA-based company, which was founded in 2002 and booked $1.1 billion in sales for the 12 months ended June 30, 2014, plans to list on the NYSE under the symbol W. Goldman Sachs, BofA Merrill Lynch and Citi are the joint bookrunners. No pricing terms were disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs
More Headlines for: AMZN , EBAY , BBBY , JD , JMEI

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