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Congratulations to Glossier, Now a $1.2 Billion Unicorn

Illustration for article titled Congratulations to Glossier, Now a $1.2 Billion Unicorn
Image: via Getty

Glossier, a company that has never successfully marketed makeup to me (but give it time), is now a unicorn.

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“What is a unicorn?” I asked Gizmodo staffer Tom McKay, just now. “Well, Rebecca, it’s when two companies love each other very much and want to merge with a third, horny company,” he said. Actually, it’s when a company is valued at more than $1 billion. I Googled it! I am very gullible.

According to Bloomberg, Glossier is now valued at $1.2 billion, thanks to a $100 million fund infusion courtesy of VC firm Sequoia Capital. Michael Abramson, a partner at Sequoia, said the firm was impressed with Glossier’s direct-to-consumer marketing techniques, which took the company from a beauty blog to a ubiquitous makeup and skincare bastion seemingly poised to turn even Sephora to dust.

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This is one of the most efficient direct-to-consumer businesses we’ve encountered, and with this new capital, we believe Glossier is well positioned to define the next era of the beauty industry,” Abramson told Bloomberg in a statement.

Glossier also raked in cash from firms like Tiger Global Management and Spark Capital, in addition to a number of existing investors, helping it triple its $52 million valuation from 2018. So far, Glossier’s made about $200 million in VC money, and though it hasn’t gone public yet, Glossier CEO Emily Weiss told the Wall Street Journal the company was certainly in a position where…we are able to do that.”

In addition to its online store, Glossier has storefronts in New York and Los Angeles. They also plan to open a few more temporary locations elsewhere in the country, all of which will probably sell too many face milks that I may or may not spend all my money on, TBD.

Night blogger, author of GOOD THINGS HAPPEN TO PEOPLE YOU HATE.

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DISCUSSION

Belladonna77
Belladonna77

The ads for this brand come up on my Instagram feed and the way it is applied on their models is just terrible. Maybe it's me, but nothing about their marketing appeals to me.