Jessica Alba's Honest Co valued at nearly $2 bln in strong market debut

Actor Jessica Alba poses at the Fifth Annual InStyle Awards at Getty Center in Los Angeles, California, U.S., October 21, 2019. REUTERS/Mario Anzuoniwas valued at $1.92 billion in its Nasdaq debut, after its shares opened 33% above their offer price on Wednesday.On Tuesday, Honest priced its offering of nearly 25.8 million shares at $16 each, above the midpoint of the $14-$17 range it had marketed earlier.

The company's market debut comes amid a bullish market for IPOs and increased investor interest in sustainable companies. Plant-based burger maker Impossible Foods is looking to list through a blank-check merger, Reuters reported in April, while sustainable sneaker maker Allbirds is also in talks for an IPO, according to media reports.Co-founded in 2011 by Alba, known for her roles in "Fantastic Four" and TV series "Dark Angel", Honest is backed by Lightspeed, Fidelity and General Catalyst among others.

The company reported a 28% surge in revenue to $300 million last year, as the COVID-19 pandemic bolstered sales of its cleaning products. Its losses narrowed to $14.5 million from $31.1 million a year earlier.Our Standards:

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Jessica Alba Sees Nine-Figure Windfall As The Honest Company Goes PublicJessica Alba earned an honest fortune on Wednesday. The Honest Company went public on Wednesday morning, raising $413 million in its IPO. The company, which trades on the Nasdaq under the ticker HN… Windfall! I love this headline. Like jessicaalba hasn't been working her butt off for the past 7 years building this company building this brand and still acting, all the while being a mom. Way to totally minimalize this, like she bought $BTC and sat around then sold it! She’s a Great example of beauty with brains ...
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The Honest Company will dig into next stage of growth after IPO, founder Jessica Alba saysThe Honest Company's public market debut will start a new stage of growth for the consumer products company, according to actress and founder Jessica Alba.
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