Ecommerce Firm Zazzle Is Said to Tap Citi, Barclays for IPO
Photographer: Igor Golovniov/SOPA Images/LightRocket/Getty Images Zazzle Inc. , an online marketplace for customized items, has hired Citigroup Inc. and Barclays Plc to prepare for an initial public offering this year, according to people familiar with the matter.
The company is seeking to go public as soon as this summer, said the people, who asked not to be identified because the matter is private. Zazzle’s plans including the timing of a listing could change, the people said.
Zazzle could be valued at around $1 billion to $2 billion, the people said.
A representative for Zazzle didn’t respond to a request for comment. Representatives for Citigroup and Barclays declined to comment.
Zazzle was launched in 2005 as a platform for people to buy and sell custom art and products. Goods offered on the site include items as varied as T-shirts, stuffed animals and wedding invitations.
The company has received $63 million in private backing, dating back to 2005, according to data provider PitchBook. Its investors include Kleiner Perkins , Industry Ventures and Northgate Capital .
Market volatility, particularly in the technology sector, has spurred many companies to delay IPOs. Those still expecting to go public this year include Reddit Inc. , StockX LLC and GoPuff, Bloomberg News has reported.
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