Abi Porter
Los Angeles-based company The Honest Company, which sells baby and personal care products, plans to raise a $1.5 billion valuation in its IPO, Reuters reports.
The Honest Company plans to list about 25.8 million shares on the Nasdaq at $14-17 per paper. If the offering goes through at the top end of the range, the company will raise about $110 million, not including proceeds from the shares, which will be sold by shareholders, the agency wrote. In January, a source told Bloomberg that the company's IPO could be valued at about $2 billion.
The Honest Company was founded in 2011 and co-founded by actress Jessica Alba. The range of products the company offers includes nappies, moisturizer or shampoo, all of which The Honest Company sells on its website and in thousands of shops. The company's partners include major US retailers such as Amazon and Target.
The Honest Company's revenue grew 27.6% last year to $300.5m, compared to $235.6m in 2019. Nappies and wipes accounted for about two-thirds of revenue. The company ended 2020 with a net loss of $14.5m - more than halved compared to 2019 ($31.1m).
source: reuters.com
The Honest Company plans to list about 25.8 million shares on the Nasdaq at $14-17 per paper. If the offering goes through at the top end of the range, the company will raise about $110 million, not including proceeds from the shares, which will be sold by shareholders, the agency wrote. In January, a source told Bloomberg that the company's IPO could be valued at about $2 billion.
The Honest Company was founded in 2011 and co-founded by actress Jessica Alba. The range of products the company offers includes nappies, moisturizer or shampoo, all of which The Honest Company sells on its website and in thousands of shops. The company's partners include major US retailers such as Amazon and Target.
The Honest Company's revenue grew 27.6% last year to $300.5m, compared to $235.6m in 2019. Nappies and wipes accounted for about two-thirds of revenue. The company ended 2020 with a net loss of $14.5m - more than halved compared to 2019 ($31.1m).
source: reuters.com
