Alibaba Group Holding Ltd. — Director's Dealing 2015

May 9, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: zulily, inc. (ZU)
CIK: 0001478484
Period of Report: 2015-05-06

Reporting Person: Alibaba Group Holding Ltd (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-06	Class A Common Stock	P	349145	$10.816	Acquired	7036720	Indirect
2015-05-07	Class A Common Stock	P	1725680	$11.423	Acquired	8762400	Indirect
2015-05-07	Class A Common Stock	P	374320	$10.749	Acquired	9136720	Indirect
2015-05-08	Class A Common Stock	P	1812720	$12.255	Acquired	10949440	Indirect
2015-05-08	Class A Common Stock	P	550560	$11.673	Acquired	11500000	Indirect

Footnotes

F1: These shares of Class A Common Stock were purchased in multiple transactions at sales prices ranging from $10.800 to $10.820, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnote of this Form 4.

F2: Des Voeux Investment Company Limited is a wholly owned subsidiary of Alibaba Group Treasury Limited, which is a wholly owned subsidiary of Alibaba Group Holding Limited. Accordingly, Alibaba Group Treasury Limited and Alibaba Group Holding Limited may be deemed to beneficially own the securities directly held by Des Voeux Investment Company Limited.

F3: These shares of Class A Common Stock were purchased in multiple transactions at sales prices ranging from $10.841 to $11.840, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnote of this Form 4.

F4: These shares of Class A Common Stock were purchased in multiple transactions at sales prices ranging from $10.630 to $10.840, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnote of this Form 4.

F5: These shares of Class A Common Stock were purchased in multiple transactions at sales prices ranging from $11.745 to $12.700, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnote of this Form 4.

F6: These shares of Class A Common Stock were purchased in multiple transactions at sales prices ranging from $11.555 to $11.700, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnote of this Form 4.