Online home decor retailer Wayfair is moving towards its IPO – and moving into a new spot near Copley Place in Back Bay.
Last year, Wayfair signed an initial lease for 105,000 square-feet at Copley Place with plans to move in around June 2014 to support the firm's rapid growth and expansion.
The new space is roughly three times the size of the company's current headquarters, located at 177 Huntington Ave. With the new spot in Back Bay, Wayfair's office space totals 275,000 square-feet. The new digs will house Wayfair's 1,100 Boston employees.
News of the company's expansion comes just a weeks after Wayfair selected banks for its IPO, which is expected this spring. The company crushed revenues in 2013, raking in nearly $1 billion – a growth of 55 percent. Back in January, word got out that Wayfair also raised a hush-hush $150 million round of funding at a valuation of $2 billion. The online retailer has plans to roll out a new product or brand in the coming weeks as well.
Stay tuned to BostInno for the latest on Wayfair's path to going public.
Image via Glassdoor
