, this time $60 million, which pushed the startup's valuation to $485 million. By the time it raised its Series B, Birchbox counted 800,000 subscribers and had acquired a French competitor. James Leynse/Corbis via Getty Images
But the startup had also spawned imitators in the beauty industry, which meant that Birchbox was losing market share. In 2016, The Wall Street Journal countedand noted that rival service Ipsy was beating Birchbox in terms of subscribers: Ipsy had over 1.5 million, while Birchbox had just over 1 million.
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