Glossier Inc, the online cosmetics company with a cult following among millennia...
- Glossier Inc, the online cosmetics company with a cult following among millennials, was valued at over $1 billion in a latest funding round led by Sequoia Capital, joining a clutch of billion-dollar makeup brands that are powered by the founders’ social-media popularity.The series D funding round, which raised $100 million, included some existing and new investors such as Tiger Global Management and Spark Capital, Glossier said.
The company, launched by U.S. lifestyle blogger Emily Weiss in 2014, has grown to over 200 employees and last year doubled its online sales to $100 million. With nearly 2 million Instagram followers, the brand has grabbed eyeballs with ads that feature everyday people, products that cater to a variety of skin tones and emphasize a natural, “no-makeup” look.
Kylie Cosmetics, Pat McGrath Labs, Jessica Alba’s Honest Beauty and Huda Beauty are some other brands with a valuation nearing or above $1 billion, according to media reports.
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