Beyond sells majority stake in Zulily for $5M [Yahoo! Finance]
Beyond, Inc. (BYON)
Company Research
Source: Yahoo! Finance
Dive Brief: Beyond sold a majority stake in Zulily to Lyons Trading Company, the operator of off-price online retailer Proozy.com, for $5 million, the company said Tuesday. The sale comes a month after Beyond bought BuyBuy Baby for $5 million. Beyond will retain a 25% stake in Zulily under the terms of the definitive agreement, which valued Zulily at $6.7 million. The sale will enable Beyond to focus on its largest growth opportunities, Beyond's Chief Operating Officer Alex Thomas said in a statement. The company said the sale's impact is expected to be immaterial to its full-year adjusted earnings per share. Dive Insight: Beyond last month said it's pursuing multiple paths to achieve profitability. But Zulily no longer appears to be part of that plan. With the sale to Lyons Trading Company, Zulily is now on its fourth owner in less than two years. Jefferies analysts, led by Jonathan Matuszewski, had a positive take on the deal. “We view this favorably, as funneling proce
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