Jessica Alba’s The Honest Company raise $70 million
Jessica Alba’s The Honest Co. raise $70 million heads toward IPO
The eco-friendly baby product company launched two years ago and annual revenue is expected to be over $150 million this year, three times its 2013 sales, reported the Wall Street Journal.
About 80% of its revenue comes from its subscription service that sends moms monthly deliveries of diapers and other non-toxic baby products.
The company plans to use the new funds to grow its reach in the U.S. and abroad. It is currently in talks to expand to China, according to a report by Dow Jones VentureWire.