PR Newswire's Business Technology Round-up, 16th Nov 2012
LONDON, November 16, 2012 /PRNewswire via COMTEX/ --
Zulily announces successful funding drive, Brookstone launches new wireless speakers and Ruckus reveals details of IPO
Zulily, a daily deals website aimed primarily at the female market, has announced a successful additional funding campaign, with the company raising an extra $85million in Series D funding.
The fledgling company has come a long way since its founding in 2009, having raised its membership numbers to more than 10million customers, who now have access to over 35 deals a day delivering savings of 70%. Zulily intends to use the impressive level of new funding to expand its product range, offering customers a wider selection of goods under the 70% discount bracket.
Investors were attracted by the company's stellar financial performance, with a spokesman from the lead fundraiser, Andreessen Horowitz, describing it as "one of the fastest growing businesses we've ever encountered". A huge amount of resources has already been spent on improving the company's infrastructure, including investment in two new shipping centres and the launch of a mobile application.
Brookstone, a high-end consumer electronics manufacturer, has launched the Big Blue Media Tower as the latest addition to its rapidly expanding product line.
The new device enables consumers to combine their music and television sound systems into one product, with the Big Blue Tower wirelessly streaming audio from smartphones, tablets and computers, as well as the more traditional auxiliary cable input. It is described as the company's "most powerful speaker", manifested as a sleek 38in sound bar designed to fill a room with sound regardless of its position. 20 watt speakers allow the device to project sound around the room with ease, whilst the 30 watt sub-woofer provides "omnidirectional" bass for an even richer listening experience.
Ruckus Wireless, an up-and-coming provider of B2B wireless technology, has announced the pricing structure for its much awaited initial public offering (IPO) to eager investors.
The IPO values shares at $15 apiece, with a total of 7million shares on offer in its first sale. An additional 1.4million will be offered by existing stockholders, taking the potential amount raised to $126million. The shares will launch on the New York Stock Exchange today under the symbol RKUS, with Goldman Sachs leading the offering. Demand is expected to be high, with technology investors seeking stable investments after the disappointing IPO from social networking giant Facebook earlier in the year.
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