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Clash of the Titans
All eyes have been on Wayfair this year as the quiet online retail giant has prepared for its IPO. But despite showcasing a large new office (that it's already outgrown), the founders have been relatively mum on what the timing will be like for going public. Now the Wall Street Journal reports why:
Two of the biggest tech IPOs anticipated for the fourth quarter are, like Alibaba, e-commerce companies: Boston-based Wayfair, which sells home furnishings, and Berlin-based Zalando, which focuses on apparel and shoes. Both companies are seeking valuations in the billions of dollars, people familiar with the deals have said. Wayfair, which will list in the U.S., is getting ready to launch its IPO but doesn't want to compete with Alibaba for the attention of bankers or investors, people familiar with company executives' thinking said. It will likely wait to begin its so-called roadshow, when shares are pitched to potential investors, at least until later in September, they said.
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