Bing Search

Movie News

©AP / Jessica Alba
© AP / Jessica Alba
Jessica Alba's Honest Company raises $70 million
By Gina Hall
TheWrap

Some women can have it all. Movie star looks and entrepreneurial spirit appear to be a great combination for Jessica Alba, whose eco-friendly The Honest Company raised $70 million in two years. The company is worth $1 billion after its latest funding round.

In addition to this latest Series C round, the company announced plans to expand into China as it looks forward to an IPO.

Also from TheWrap:  'Sin City' B-Roll Footage Shows Jessica Alba, Joseph Gordon-Levitt and Lots of Green Screen

"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, according to The Wall Street Journal.

The baby product company launched in early 2012 and is expected to see revenue of over $150 million in 2014. More than 80 percent of its revenue is sourced from subscription services, which send moms deliveries of environmentally-friendly baby needs like diapers and pacifiers.

Wellington Management Company led the Series C funding round, which included investors such as Lightspeed Venture Partners and Iconiq Capital.

Alba is represented by CAA, 3 Arts Entertainment and PMK*BMC.

40Comments
Aug 27, 2014 7:39AM
avatar
word of advise: don't expand to China.
Aug 27, 2014 8:09AM
avatar
Wasn't Jessica Alba the the brilliant young star that stated in an interview that "maybe it is time that Americans should seriously consider embracing socialism"?
Now a company with a projected net worth of over one billion dollars??? So much for the socialism bit...

Aug 27, 2014 9:13AM
avatar
yeah, lets expand to china because we all know how great their eco-friendly baby products are
Aug 27, 2014 8:59AM
avatar
A billion? Really?  Then why do they need to go public?  Something here does not add up.
Aug 27, 2014 8:57AM
avatar
socialism??? not when the dirty word profit is involved. have you checked your health care bill lately?
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?
showtimes & tickets
Search by location, title, or genre: