Online furniture king Wayfair files for IPO

Wayfair is looking to raise up to $350M under the symbol W. Underwriters include Goldman, BofA/Merrill Citi, Pac Crest, Piper, and Wells Fargo. (prospectus)

The online furniture giant was reportedly valued at $2B in a recent funding round. It had 1H14 revenue of $574.1M (+50% Y/Y), and a net loss of $51.4M. Gross margin was 23.3%, and sales/marketing spend totaled $138.3M.

Wayfair had 2.6M active customers during 1H14, +75% Y/Y. Net revenue per active customer for the last 12 months is $332, +6.1% Y/Y. 51.2% of 1H orders were from repeat customers, and 27.9% were placed via mobile devices.

Co-founder/CEO Niraj Shah and co-founder/CTO Steven Conine each own 28.9% stakes. Wayfair's listed competitors include furniture stores, major retailers (Home Depot, Wal-Mart, etc.), and of course, Amazon.

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Comments (2)
  • vikramnjnjjdjnd
    , contributor
    Comments (1444) | Send Message
    I have not bought from wayfair but my brother has and liked the experience. They do have a good selection of furniture and have been popping up when I google up "furniture" on the top. In this bull market I can see this pop on the opening day just as most ipo's this year.
    18 Aug 2014, 10:08 AM Reply Like
  • gary 15
    , contributor
    Comments (39) | Send Message
    I feel this IPO will have a good start also. I know someone who was a recent hire and he speaks very highly of the company. From what I have read it sounds as if they have been preparing for this in the right way.
    31 Aug 2014, 03:25 PM Reply Like
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