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Birchbox Gets Growth Equity Investment

Birchbox Gets Growth Equity Investment

Birchbox Gets Growth Equity Investment
May 01
22:39 2018
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Birchbox has secured a growth equity investment from Viking Global Investors, a longtime backer of the business.
Viking has purchased a majority interest in the company, WWD has confirmed.
“The next phase for Birchbox is about amplifying the impact we can have on our customer and accelerating our growth as a company,” said chief executive officer Katia Beauchamp in a statement. “As an independent company with renewed investment, we are in a position to actively pursue plans that help further our mission and fuel our ambitious goals in the U.S. and in our global market. As part of that strategy, we are prioritizing product innovation, the evolution of our digital experience and scaled partnership opportunities.”
The business has been rumored for months to be a target, and sources indicated it hired Centerview to look into a deal. At one point, reports circulated that Walmart was a contender.
For Birchbox, the deal comes after a shift in the venture capital markets caused the business to prioritize profitability over growth. (A series of layoffs ensued.) When Birchbox launched in 2010, it was first to market with the beauty box concept and quickly raised VC capital — in 2014, it was valued at $485 million. Birchbox raised

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