Wayfair CEO on its IPO Following Alibaba's Historic Debut

Wayfair (W) is now trading at the New York Stock Exchange under the ticker symbol 'W' after its initial public offering priced Wednesday evening at $29 a share, at the high end of the $25 to $29 range. 11 million shares were offered raising $319 million. Niraj Shah is Wayfair's CEO, co-founder and co-chairman and will own 28.3% of the company. The other co-founder and Chief Technology Officer, Steven Conie will also own the same amount of Wayfair shares. The e-commerce company sells furniture and other home decor after consolidating more than 240 websites in 2011 under one site. Wayfair's is the latest e-commerce company to IPO after Alibaba's (BABA) historic debut. Shah thinks investors are excited about e-commerce and thinks there's an opportunity. He also shared his average customer is a returning one and more specifically a 45-year-old woman.