Report: Wayfair looking to raise $150 million
February 4, 2014-- Furniture Today,
BOSTON — Online home furnishings site Wayfair is looking to raise $150 million, the Venture Capital Post has reported.
The publication said that a source familiar with the company's plans said that the fundraising initiative has put the company's valuation at around $2 billion. The unnamed source also told the publication that the Wayfair funding initiative was led by T. Rowe Price.
The Venture Capital Post said the news about the funding followed Wayfair rival One Kings Lane's fundraising effort. On Thursday, Reuters said One Kings Lane was able to nab $112 million, putting the company's valuation at about $912 million.
The news also comes soon after Wayfair confirmed that it topped $1 billion in annual sales in 2013, reported last month by Furniture/Today.