Beyond acquires IP, brand assets of Zulily for $4.5M

Beyond announced the acquisition of the intellectual property and other brand assets of Zulily, the flash sale pioneer and ecommerce retailer. This strategic move was designed to further strengthen Beyond’s position in the off-price market, enhancing value for customers on the products they’re looking for. The addition of Zulily will complement Beyond’s suite of brands, including Overstock, which is scheduled to relaunch later this month. As part of the transaction, Beyond, Inc. acquires certain intellectual property assets related to the Zulily brand, including website and domain names, trademarks, tradenames, customer database, social media accounts, software to run the Zulily website, and goodwill associated with the brand. The transaction excludes all of Zulily’s liabilities, liens, and debts. Pursuant to Beyond’s asset purchase agreement, the Company purchased the assets for $4.5 million plus acquisition-related costs, funded entirely with cash on hand. The new Zulily site is expected to be fully functional by the end of Q2 2024 and contribute to Beyond’s 24-month revenue goal without adding any additional incremental fixed expense.