Liberty Interactive, the media company that owns QVC, has announced that it will be acquiring Zulily, a leading ecommerce retailer serving millennial moms and the digital-only generation. The deal, valued at $2.4 billion, looks to bring Zulily and QVC together under one company to create a multi-platform entertainment shopping destination.

Founded in 2010 by Darrell Cavens and Mark Vadon, Zulily, exceeds $1 billion in sales and is a destination brand for millions of millennial customers and young moms seeking discounted items including apparel, fashion accessories, home décor, toys and gifts.

Zulily will remain in its Seattle headquarters with its current management team. QVC and Zulily will continue to operate as separate consumer facing brands.