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Nearly two years after its launch, Jessica Alba’s The Honest Company, which she cofounded Christopher Gavigan, Sean Kane and Brian lee is worth an estimated $1 billion.
The company has raised almost $70 million as it prepares for IPO and it is expected to earn over $150 million this year alone, which is about three times what the company made last year. The Wall Street Journal reports that about 80 percent of the company’s revenue comes from a subscription service, in which people receive eco-friendly diapers. The company sells a variety of products and they are known for their eco-friendly and non-toxic items, including wet wipes and cribs made with non-toxic paint.
The star is also known to gift her baby products to her celebrity friends like Jessica Simpson and Gwen Stefani Yahoo! reports .
Jeremy Liew, an investor of the company, talks about how Alba’s stardom has helped the company, telling The Wall Street Journal“She is an international star. We’re starting to see a lot of demand from her fans around the world.”
Alba helped create the company after she became a mother, realizing how many harmful chemicals were in the average home and can be a danger to young children.
Right now the company’s products are largely sold online, but they have plans to start moving into stores soon.
Photo Credit: ACE/INFphoto.com