Business Categories Reports Podcasts Events Awards Webinars
Contact My Account About

GOOP RAISES $50 MILLION SERIES C

Published April 2, 2018
Published April 2, 2018
Goop

Goop raises $50 million in a Series C with investors in the round including NEA, Lightspeed, and Felix Capital. This round brings Goop’s total outside investment to $82 million.

WHO: Gwyneth Paltrow founded Goop in 2008 out of her kitchen as a homespun weekly newsletter. She wanted a place to organize her unbiased travel recommendations, health-centric recipes, and shopping discoveries for friends, and she also wanted to get her own questions—about health, fitness, and the psyche—answered. The brand has evolved into a full-blown content-and-commerce lifestyle company.

WHY: The newest investment will fund its international expansion, the company says, adding that it will specifically focus on expanding e-commerce into Europe by the end of the year, as well as host overseas events.

DETAILS:

  • This round brings Goop’s total outside investment to $82 million, following family-and-friend funding, a $10 million series A in 2015, and a $15 million series B in 2016.
  • Market sources estimated Goop’s 2016 revenue at $15 to $20 million, but the company would not confirm the number. The company is not yet profitable.
  • Goop did not confirm a valuation but did say PitchBook’s recent estimate of $250 million was off, though the company would not comment on if it was too high or too low.
  • According to Pitchbook, Goop had previously raised $26.5 million. It was valued at $65 million in August 2016.
  • According to Forbes, the company claims it tripled revenue year-over-year for each of the past two years and says it is on track to more than double revenue in 2018.
  • Goop launched branded products in 2016, which constitute Goop’s fastest-growing revenue stream. The company claims that sales will increase 200% this year.
  • Goop launched Canadian shipping in December 2017.
  • This year’s growth is expected to come from new Goop-branded product lines, including a fourth fragrance, new skincare products, and a home goods line, as well as the expanding international business.

You've reached your limit.

Want to continue reading this article and others just like it?

Subscribe to BeautyMatter and access the most current beauty intelligence and news updates.

Subscribe

Already a member, login here.