Monday, July 26, 2021
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Jessica Alba-backed Honest Company IPO raises $412.8 mln

Jessica Alba and the firm she founded, Honest Company, rung the Nasdaq Opening Bell on Wednesday (May 5), one day after the company said it priced its initial public offering (IPO) slightly above the midpoint of its indicated range, raising $412.8 million.

The company said late Tuesday (May 4) that it sold 25.8 million shares at $16 each.

Honest had previously indicated shares could be sold in the IPO at $14-$17 apiece.

The IPO values Honest at $1.44 billion.

Honest, which counts the likes of Lightspeed, Fidelity and General Catalyst among its backers, sells products including diapers, nursing pillows, vitamins and non-toxic household products. These are sold on Honest.com and through partnerships with brick-and-mortar stores including Costco and Target.

(Production: Aleksandra Michalska)

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