Liberty Interactive Corp., which is chaired by John Malone, is buying e-commerce company Zulily Inc. for approximately $2.4 billion. Zulily will become part of the QVC Group. Liberty Interactive will pay $18.75 per share, which marks a 49% premium to Zulily’s closing price on Friday. The acquisition of Zulily enables QVC to reach an audience of young mothers and accelerate its mobile leadership, according to Monday’s announcement. Seattle-headquartered Zulily, which uses a flash sales model, sells clothing for children, women and men. It also offers toys, kitchen accessories and home decor, among other products. About 56% of its orders are placed over mobile devices. In the second quarter, Zulily reported net sales of $297.6 million, net income of $3.5 million and adjusted Ebitda of $14.2 million, compared with net sales of $285 million, net income of $ 7.8 million and adjusted Ebitda of $14.4 million in the year-ago period. Zulily chairman and co-founder Mark Vadon will join Liberty Interactive’s board. Zulily’s shares were trading at $18.53 at 2:30p.m. on Monday, up 47%.
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