Jessica Alba's The Honest Company files for IPO
The Honest Company, the all-natural household products company co-founded by Jessica Alba, filed on Friday for an initial public offering.
Why it matters: Despite the buzz Alba's involvement has garnered, the company has faced controversies over certain product ingredients, and slashed its valuation when it raised funding in 2017.
By the numbers:
- In 2020, the company saw a net loss of $14.5 million on $300.5 million in revenue. In 2019, it had a $31.1 million net loss on $235.6 million in revenue.
- While all product categories grew from 2019 to 2020, its Household and Wellness revenue increased by 116.5% to $32.5 million, up from $15 million. The company attributes this to "sales from the sanitization and disinfecting products that we introduced in 2020, in particular through the Retail channel."
- The Honest Company's biggest shareholders include L Catterton, IVP, Lightspeed Venture Partners, Fidelity, and General Catalyst.