Jessica Alba's eco-friendly baby business' value rises to $1 b
Jessica Alba's eco-friendly baby products site, Honest Co., has raised 70 million dollars, raising the business' value to 1 billion dollars.
The firm, which sells nontoxic bath and skin-care products, dietary supplements and designer-branded clothing, gets 80 percent of its revenue online and has racked up 150 million dollars this year, the New York Post reported.
Brian Lee, co-founder and CEO, said that the funding would enable them to expand their current category offerings and availability, and develop products across many new and exciting categories.
The company had been forced to hold back marketing efforts because it was at capacity fulfilling orders, has "feel-good" business plans like donations of diapers and cribs.
(Posted on 28-08-2014)