Zulily, a flash sales site (yep, another one) for mothers and children, is reportedly raising a new round of financing at a $1 billion valuation. The Wall Street Journal  reports that the company is raising $85 million in around led by Andreessen Horowitz [disclosure: Marc Andreessen is a personal investor in PandoDaily]. The company, which is reportedly generating $500 million in annual revenue, has raised $138.6 million to date and has no plans to for an IPO in the near future, according to its CEO.

[Source: WSJ]