Jessica Alba's The Honest Co. Valued at $1 Billion, Ready For IPO
Move over Jessica Simpson, we have a new celebrity mogul in town.
Jessica Alba’s The Honest Co., a maker of eco-friendly baby products, has raised $70 million at a valuation just shy of $1 billion and is beginning partnership talks to expand to China and is preparing for an IPO.
The company said the funds go to accelerate the company's growth, Honest Company offers up non-toxic, family friendly products such as baby products, bath and skin care, cleaning supplies, and other household goods.
“We believe being a public company is the best path for us going forward and it’s good to get that validation early on,” Honest Chief Executive and Co-founder Brian Lee said, noting that public-markets investor Wellington Management Company led the Series C round. “I can’t say when that will be, but we are definitely starting to think and act like a public company.”
Jeremy Liew, a partner with early investor Lightspeed Venture Partners, said Ms. Alba, the actress-turned-entrepreneur who co-founded the company in 2011, has leveraged her star power for the benefit of the startup.
As a new mom, Jessica Alba wanted to create the safest, healthiest environment for her family. But she was frustrated by the lack of trustworthy information on how to live healthier and cleaner-delivered in a way that a busy mom could act on without going to extremes.
You got anymore ideas you want to share with us Jessica?