Jessica Alba faced criticism for her Honest Company sunscreen last year when consumers complained about getting sunburns--serious ones, too-despite using ample amounts of the product. Things are certainly looking up for Jessica Alba since then. Now her business is looking to go public.
— Bloomberg Business (@business) February 7, 2016
According to a report from Bloomberg, the online shopping startup co-founded by Jessica Alba is working with both Goldman Sachs Group, Inc. and Morgan Stanley on an initial public offering.
Since Jessica Alba co-founded The Honest Company, it has expanded from solely selling natural baby products to a variety of goods. Their product list has grown to include home and beauty items, and now they are available at Target stores and Whole Food Markets, in addition to online.
— CNBC (@CNBC) February 7, 2016
Jessica Alba's company is backed by several big investors including Fidelity Management & Research Co., General Catalyst Partners, Lightspeed Venture Partners, and Wellington Management. In 2015 The Honest Company was worth approximately $1.7 billion.
Neither Jessica Alba nor reps for The Honest Company replied to Bloomberg's requests for comment.