Blue Nile (Washington state) : The largest online jewelry retailer in the United States.

15-07-2019

(USKings.us) Blue Nile is an online jewelry retailer founded in 1999. It is based in Seattle, Washington. As of February 2017, it is a subsidiary of Bain Capital.

The company that became Blue Nile began in 1995 when Doug Williams of Williams & Son Inc. of Seattle started a website to sell diamonds online.

Mark C. Vadon

 

Mark C. Vadon, then a management consultant at Bain & Company, purchased a diamond engagement ring from the site in 1998. In 1999, Vadon raised $6 million to purchase 85% of the company and improve the website. The company's name was changed to Blue Nile in November 1999. During the next year, the company raised an additional $44 million. Investors included Bessemer Venture Partners, Kleiner Perkins Caufield & Byers.

Blue Nile fulfillment center in Seattle

 

Blue Nile raised $76 million in its IPO on May 18, 2004. Merrill Lynch & Co., Bear Stearns Cos. and Thomas Weisel Partners LLC managed the IPO, sharing fees of $5.4 million. The initial public offering of shares in Blue Nile Inc, rose 39% in first-day trading, closing at $28.40.

According to wikipedia


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