Jessica Alba's Honest Company Is Reportedly a $1.7 Billion Company Now The consumer goods company's value has gone up nearly 50 percent since its funding round a year ago, reports The Wall Street Journal.
By Laura Entis
Opinions expressed by BIZ Experiences contributors are their own.
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.
Related: How Reese Witherspoon's New Lifestyle Brand Stacks Up Against Goop, Honest and Preserve
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.
As with many high-profile co-founders, Alba has found herself at the center of public controversy. Last month, photos of burnt skin – purportedly showing that The Honest Company's SPF 30 sunscreen did not work – went viral. Alba responded with a statement that appeared to try and quash the validity of the photos, writing that not only was the product tested by a third independent party, but "the number of complaints received on our own website about our Sunscreen Lotion constitute less than one half of one percent of all units actually sold at honest.com."
Related: 3 Things Jessica Alba's Honest Company Must Do to Stop Its Brand From Burning
