As part of a plan to cut costs by $500 million, Staples says it plans to close up to 225 North American stores by ...
Jessica Alba’s The Honest Company raises $25 million
The actress co-founded the subscription e-retailer for baby items.
E-retailer The Honest Company, co-founded by actress Jessica Alba, has raised $25 million in its second funding round. The retailer sells diapers and other products via subscriptions, delivering items to customers monthly.
Institutional Venture Partners led the funding round, which included Iconiq Capital and existing investors Lightspeed Venture Partners and General Catalyst Partners. Last year, The Honest Company raised $27 million.
The new capital will go toward global expansion, new products, better distribution and other areas.
“The overwhelmingly positive response to both our recent launch in Canada and the availability of Honest products from our retail partners is a testament to the vast unmet global need for safe everyday family products,” says CEO and co-founder Brian Lee. “This new round of funding will provide essential resources for us to continuously expand our suite of products and bring them to households around the world.”
The e-retailer launched in January 2012.