Jessica Alba's The Honest Company, maker of baby and personal beauty care products, finally went public Wednesday. And shareholders, especially Alba, are making out well so far.
Shares of The Honest Company (HNST) soared more than 40% from their initial public offering price of $16. Trading at $23 a share late Wednesday, Alba's nearly 5.65 million shares of the company — a more than 6.1% stake — were worth about $130 million.
The company is now worth about $2 billion.
Alba, the 39-year-old actress who is The Honest Company's founder, chair of the board and chief creative officer, also received a salary, bonus and other compensation that totaled more than $2.2 million in 2020.
It's vindication for Alba and other executives and investors at The Honest Company. Over the past few years, the firm had been plagued by questions about how safe its products were and whether they truly were as organic as the company claimed.
Rumors flew a few years ago that The Honest Company was preparing for an IPO or sale to a larger consumer products company. Neither happened.
Still, the company continued to grow. Sales rose nearly 28% last year to about $300 million thanks to strong demand for diapers and wipes. The Honest Company still isn't profitable, but losses are narrowing.
So it looks like waiting for the right time to go public has worked out just fine for Alba and The Honest Company. And that's no lie.
"stock" - Google News
May 06, 2021 at 03:37AM
https://ift.tt/3nNh6BP
US stocks breathe a sigh of relief after Janet Yellen walks back rate-hike talk - CNN
"stock" - Google News
https://ift.tt/37YwtPr
https://ift.tt/3b37xGF
Bagikan Berita Ini
0 Response to "US stocks breathe a sigh of relief after Janet Yellen walks back rate-hike talk - CNN"
Post a Comment