Note from Editors:
by Laura Entis
It’s been a busy summer for The Honest Company, the eco-friendly consumer goods startup co-founded by actress Jessica Alba, which made headlines last month due to allegations that its sunscreen was not effective.
The company is in the news again, this time not over photos of burnt skin, but a monster $100 million funding round that values the company at $1.7 billion, The Wall Street Journal reports.
The company currently sells more than 75 percent of its products online, but is working to beef up the store-disruption arm of its #business at chains such as Target, according to the outlet. It has said that its sales last year were $170, up from $60 million in 2013.
In a shifting sea of startups founded by celebrities (see: Tidal), Alba’s venture has illustrated its staying power. This latest funding round raises the company’s value by nearly 50 percent since last summer, when it raised $60 million at a $1 billion valuation.
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