Makeup brand Glossier valued at over US$1 billion in latest funding round

REUTERS: Glossier Inc, the online cosmetics company with a cult following among millennials, was valued at over US$1 billion in a latest funding round led by Sequoia Capital, joining a clutch of billion-dollar makeup brands that are powered by the founders' social-media popularity.

The company, launched by U.S. lifestyle blogger Emily Weiss in 2014, has grown to over 200 employees and last year doubled its online sales to US$100 million. With nearly 2 million Instagram followers, the brand has grabbed eyeballs with ads that feature everyday people, products that cater to a variety of skin tones and emphasize a natural,"no-makeup" look.The company earlier this month launched"Play," a brand that sells more colorful, flashier makeup, as part of efforts to expand its customer base.

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