Birchbox takes in USD60 million Series C funding round
Birchbox has taken in USD$60 million funding round which values it to USD$485 million. The beauty sample box provider has received a Series B funding led by Viking Global Investors. Other investors included First Round Capital, Consigliere Brand Capital, Aspect Partners and Accel Partners.
Birchbox has been shipping beauty samples to subscribers charging USD$10 monthly fees. The New York based company allows its subscribers to order the samples they received which make it standout from other businesses who copied its model. According to a post from Fortune, the company has recorded 30 percent revenue coming from subscribers who have received home delivered samples. In total, the company has listed an annual revenue valued USD$125 million.
Currently, Birchbox has 250 workers and has collaborated with 800 brands. The company also recorded 800,000 subscribers, reported TechCrunch. Birchbox has also expanded into the European market after purchasing JolieBox last 2012. In the same year, the company also launched Birchbox for men.