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IVP, General Catalyst and Jessica Alba are big winners in the Honest Company's IPO. Here are all the investors set to do well.

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Jessica Alba Honest

Summary List Placement

Last year, The Honest Co. benefited from a shift to online buying and skyrocketing demand for household cleaning products amid the pandemic, which led to just over $300 million in revenue, a nearly 30% increase from 2019, it said.  

The company hopes to capitalize on that momentum by going public. 

It's investors, which include private equity, venture capital firms, and asset managers, have stakes that are now worth millions after Honest's public market debut. Most of them bought their shares for between 53 cents/share (the Series A round) and $9.80/share (the Series F round), the company disclosed. While the company's filing with the SEC didn't disclose all of its investors, it did unveil those with the biggest stakes. 

After pricing its IPO at $16 a share, the company's shares opened at $21.22 on Wednesday and we calculated the value of those positions based on the opening price.

L Catterton: $661.8 million

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Dahnke and his firm own the largest stake in The Honest Co. He's also a director on the company's board.

Dahnke has been with L Catterton for nearly 20 years and also serves as the chairman of Williams-Sonoma. The firm, which touts itself as the largest global consumer-focused private equity firm, has invested in other companies like Peloton and Vroom. 

In 2018, L Catterton pumped $200 million into Honest. 

Its stake is: 31,187,748 shares 

At $21.22 a share, those shares are worth $661.8 million.



IVP: $246.7 million

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IVP was one of The Honest Co.'s earliest investors and has been funding the company since 2011, according to PitchBook. It last took part in the company's $75 million funding round in late 2017. IVP general partner Eric Liaw has been on the company's board since November 2013. 

Its stake is: 11,626,054 shares

At $21.22 a share, those shares are worth $246.7 million.



Lightspeed Venture Partners: $218 million

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Lightspeed has been another longtime Honest backer. It last participated in the company's $70 million round in 2014. Lightspeed partner Jeremy Liew has been on the company's board since September 2011. Liew has been a partner at Lightspeed for 15 years, making investments in companies like Snap. 

Its stake is 10,272,466 shares.

At $21.22 a share, those shares are worth $218 million.



Fidelity Investments: $168.6 million

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Mutual-fund giant Fidelity led Honest's $75 million fundraise in late 2017, a round that gave the company an estimated value of $860 million, according to PitchBook, but that was a so-called 'down round" meaning the company had been valued higher in prior rounds. In 2015, Honest saw a valuation as high as $1.7 billion.

Fidelity's stake is: 7,944,424 shares

At $21.22 a share, those shares are worth $168.6 million.



General Catalyst: $90 million

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The venture capital firm has also taken part in several of the Honest Co.'s funding rounds, most recently taking part in the company's $70 million round in 2014.

Its stake is: 4,240,798 shares

At $21.22 a share, those shares are worth $90 million.



Jessica Alba, co-founder and chief creative officer: $119.8 million

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Jessica Alba's journey to creating The Honest Co. began in 2008, when she happened to get an allergic reaction from a detergent she used to wash her baby's clothes. Alba, who suffered from asthma and allergies as a kid, didn't want her child to suffer from the same health problems. So she set out to find safer and natural products, but couldn't find what she was looking for. And so The Honest Co. was born. 

Her stake is: 5,645,118 shares

At $21.22 a share, those shares are worth $119.8 million.



Nick Vlahos, CEO: $76.2 million

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Vlahos joined the company in 2017, replacing Brian Lee as its CEO. Before taking on the top job at Honest, Vlahos was chief operating officer at Clorox, where he spent nearly 22 years. 

His stake is: 3,590,316 shares

At $21.22 a share, those shares are worth $76.2 million.



Rick Rexing, chief revenue officer: $10.7 million

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Rexing has been with The Honest Co. since September 2017. Like Vlahos, he joined the company from Clorox, where he was the vice president sales, national accounts. Rexing spent 30 years at Clorox before transitioning to Honest.

His stake is: 506,506 shares

At $21.22 a share, those shares are worth $10.7 million.



Katie Baynes, board director: $1.6 million

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Bayne has been on the company's board since October 2018. She's a senior advisor at  Guggenheim Securities, the investment banking and capital markets division of financial services firm Guggenheim Partners. Prior to that, she worked at The Coca-Cola Company for almost 20 years.

Her stake is: 75,000 shares

At $21.22 a share, those shares are worth $1.6 million.




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