Dive Brief:
- Wayfair's initial public offering was valued at $2.32 billion in a Sept. 19 filing with the U.S. Securities and Exchange Commission.
- The home furnishing retailer will offer 11 million of its 82.8 million shares, and is expected to raise $308 million.
- This estimate is down from the predicted $350 million the company sited to raise in its IPO paperwork, filed in mid-August.
Dive Insight:
Though deflated a bit, Wayfair's expected valuation is reassuring in a time where some are saying the flash sale model is fading. The company, which owns five different brands including Wayfair.com, Birch Land, and Joss & Main, was founded in 2002 and boasted promising sales last year of $915 million, up from $600 million in 2012.