BEYOND ACQUIRES ZULILY FOR $4.5M WITH PLANS TO RELAUNCH THIS YEAR

Summary from the TLDR Founders newsletter

Zulily, an online retailer that faced a shutdown and layoffs in the past year, is being bought by Beyond (formerly Overstock) for $4.5 million in cash. As part of the deal, Beyond, which is led by Marcus Lemonis, star of the reality TV show "The Profit", will acquire Zulily's website, domain names, trademarks, customer database, social media accounts, and software. Zulily's was valued at around $4 billion after its IPO around a decade ago.