Wayfair To Raise $350 Mln In IPO

(RTTNews) - Wayfair, the online home-furnishing retailer Friday filed Form S-1 in the United States Securities And Exchange Commission to raise $350 million in an initial public offering of Class A common stock.

The Boston Based company intends to list shares on the New York Stock Exchange under the symbol "W".

Goldman, Sachs & Co., Bank Of America Merrill Lynch, Citigroup and Allen & Company LLC were some of the underwriters for the offering.

The company plans to use offering proceeds primarily for general corporate purposes and also expects to distribute to investment and acquisition purposes.

According to filing, Wayfair's 6-month net loss widened to $63.16 million or $1.55 per share from $24.30 million or $0.59 per share last year, whereas revenue went up to $574.14 million from $383.21 million in the year ago period.

Wayfair, which was founded in 2002, owns brands such as online flash sales site Joss & Main, modern furnishings studio Dwell Studio and Birch Lane and offers more than 7 million products.