Jessica Alba's Ethical Consumerism-Centered Brand Honest Company Raises $413M In IPO

benzinga2021-05-05

Actress-turned-entrepreneur Jessica Alba’sThe Honest Company Inc, best known for making diapers, sunscreens and cleaning products, has raised $413 million in an initial public offering, valuing the ...

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Comments

BL9626
2021-05-05
BL9626
Wow!
Grednana
2021-05-05
Grednana
Cool
jastsm
2021-05-05
jastsm
Honestly cool
Investigater
2021-05-05
Investigater
Let’s be honest here
SHY86
2021-05-05
SHY86
Ha
sheldonkwek
2021-05-05
sheldonkwek
X

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Honest had earlier indicated shares could be sold in the IPO at $14-$17 a share.</p><p>The Los Angeles-based company will list its shares on the Nasdaq under the symbol \"HNST\" on Wednesday.</p><p>Alba owns 5.65 million shares in Honest, giving her stake a valuation of around&nbsp;$90.4 million at the IPO price.</p><p>The company has raised money in several&nbsp;private funding rounds andwas reportedto be considering public going&nbsp;in 2016 when a lawsuit said its products contained a harsh chemical it had pledged to avoid.</p><p>Lightspeed, Fidelity and General Catalyst-backed company had then reached a $7.35 million settlement for wrongly labeling ingredients in some products as natural, plant-based, or chemical-free.</p><p><b>Why It Matters:</b>Alba markets Honest products as safe and eco-friendly, most of which were initially sold online. The company has also tied up with brick-and-mortar retailers such as<b>Target Corp</b>,<b>Amazon.com Inc</b>,<b>Costco Wholesale Corp</b>&nbsp;and Whole Foods for distribution.</p><p>The company generated sales of $300.5 million in 2020, a 28% increase over 2019. Honest reported revenue of $235.6 million for fiscal 2020, up 27.6% year-over-year, and net loss of $14.5 million.</p><p>Diapers and wipes made up 63% of 2020 revenue, while skin and personal care product revenue represented 26% of sales.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jessica Alba's Ethical Consumerism-Centered Brand Honest Company Raises $413M In IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJessica Alba's Ethical Consumerism-Centered Brand Honest Company Raises $413M In IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 17:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Actress-turned-entrepreneur Jessica Alba’sThe Honest Company Inc, best known for making diapers, sunscreens and cleaning products, has raised $413 million in an initial public offering, valuing the ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HNST":"The Honest Company, Inc."},"source_url":"https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139920922","content_text":"Actress-turned-entrepreneur Jessica Alba’sThe Honest Company Inc, best known for making diapers, sunscreens and cleaning products, has raised $413 million in an initial public offering, valuing the company at $1.45 billion.What Happened:According to a regulatory filing, the company sold about 25.8 million shares for $16 each, slightly above the midpoint of its indicated range. Honest had earlier indicated shares could be sold in the IPO at $14-$17 a share.The Los Angeles-based company will list its shares on the Nasdaq under the symbol \"HNST\" on Wednesday.Alba owns 5.65 million shares in Honest, giving her stake a valuation of around $90.4 million at the IPO price.The company has raised money in several private funding rounds andwas reportedto be considering public going in 2016 when a lawsuit said its products contained a harsh chemical it had pledged to avoid.Lightspeed, Fidelity and General Catalyst-backed company had then reached a $7.35 million settlement for wrongly labeling ingredients in some products as natural, plant-based, or chemical-free.Why It Matters:Alba markets Honest products as safe and eco-friendly, most of which were initially sold online. The company has also tied up with brick-and-mortar retailers such asTarget Corp,Amazon.com Inc,Costco Wholesale Corp and Whole Foods for distribution.The company generated sales of $300.5 million in 2020, a 28% increase over 2019. 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