Glossier triples valuation, registers unicorn squad with $100 M round

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Glossier, knows we its flagship string of scarcely there beauty concoctions, has property a $100 million Sequences D led by Sequoia Capital. The round qualities Emily Weiss’ business at a whopping $1.2 billion, fully cementing the company as a startup ” unicorn” and tripling the valuation it garnered with a $52 million Sequence C in 2018.

News of the round was first reported by The Wall Street Journal and later confirmed by Glossier.

” We are building an entirely new various kinds of attractivenes companionship: one that owns the distribution channel and obliges clients our stakeholders ,” founder and chief executive officer Emily Weiss said in a statement.

As part of the round, which included reinforce from beginners Tiger Global Management and Spark Capital and existing investors Forerunner Ventures, Thrive Capital, IVP and Index Ventures, Glossier has hired Vanessa Wittman as its chief financial officer. Wittman previously held the same role at Oath and Dropbox. She supersedes Henry Davis, who left the direct-to-consumer makeup brand in late 2018. Other recent adds-on include Edith Chen, Glossier’s brand-new vice president of give chain operations, and Nick DeAngelo, vice president of operations.

To date, New York-based Glossier has brought in nearly $200 million in venture capital investment, establishing it one of the most well-funded privately held beauty businesses. What’s next for the company? Weiss tells The WSJ an initial public offering isn’t out of the question, but didn’t provision a timeline. It’s been about five years old since Glossier moved from blog to business; it still has plenty of experience before investors are pushing for an IPO.

Since it propelled as a knockout blog in 2010, Glossier has grown into a 200 -person business with $100 million in annual receipt in 2018. It have been put in place two brick-and-mortar browses and expanded from au naturel makeup to ” dialed-up extras “ fit for the Instagram crowd. The recent propel of its first spin-off brand, Glossier Play, intimates at a future where Glossier is a multi-brand beauty empire rivalling with the likes of Ulta and Estee Lauder.

Should VCs be investing in beauty firebrands ?

Makeup is a huge and growing industry venture capitalists have been sleeping on. Megan Quinn, a general marriage at Spark Capital, who led the round in Glossier on the firm’s behalf, says online knockout sales are expected to reach $120 billion by 2024. She expects Glossier to acquire the knockout market as a result of its intimate linkage with clients, word of mouth customer acquisition channel and community-building tactics.

” To be mentioned that[ Weiss] is a force-out of nature obfuscates her genuine superpower: she is a fantastic listener ,” Quinn writes in a blog post.” By waver her unique point of view with the feedback loops of her parish, she has built a programme to capability additional brands that respond to her customer’s needs. More importantly, she has built a world-class team of product designers, supply series experts, market muscle, and arguably one of the largest engineering units in glamour to make it happen .”

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