According to the Wall Street Journal, the superstar actress's environmentally-friendly baby care startup, The Honest Co., recently closed a $70 million fundraising round. That investment now values her company just shy of a billion dollars, and it's only growing:
"She is an international star. We're starting to see a lot of demand from her fans around the world," [investor Jeremy Liew] said. "This idea for non-toxic, chemical free products has resonated around the world in developed and developing countries."
Since launching in 2012 with its non-toxic diapers and other natural baby products, the California-based startup has grown quickly by blending its environmentally sensitive products with a social mission. Annual revenue is tracking to hit north of $150 million in 2014, or three times the revenue of 2013, according to [co-founder Brian Lee].
Despite having been in business for just a few years, The Honest Co. is already eyeing a public stock offering, which will likely value the company even higher.
Maybe the Valley will take this as a sign to stop hawking celebrity-sponsored fad apps, and instead create businesses that sell products people actually want. But we doubt it.