Glossier Inc. is now valued at $1.2 billion — that's billion, with a "B" — according to new reports by The Wall Street Journal. On Tuesday, the direct-to-consumer beauty startup launched by Emily Weiss in 2014 announced a $100 million Series D capital infusion led by Sequoia Capital, a firm that has also invested in makeup artist Charlotte Tilbury's eponymous cosmetics brand.
In 2018, Glossier's revenue reportedly topped $100 million, and earlier this month the company launched its second spinoff brand, Glossier Play. The company also recently tapped Vanessa Wittman, whose previous experience includes roles at Oath Inc., Dropbox Inc. and Motorola Mobility LLC, as chief financial officer.
This incredible growth and influx of investment has the industry buzzing about whether Glossier may be heading toward an initial public offering any time soon; when pressed on the question, Weiss only told The Wall Street Journal, "We are certainly in a position where...we are able to do that."
While there was once some speculation that Glossier's goal was to build its value in order to be acquired by one of the large beauty corporations that have put so much cash into nabbing young, digitally-savvy beauty brands in recent years (Estée Lauder or L'Oréal, for example), it seems that Weiss's mission for the company is to transform it into an independent large beauty corporation of its own. The debut of a second brand under the Glossier umbrella this month was evidence of exactly that — and apparently investors are liking what they see.