grooming goes public…again
Beauty and tech platform Oddity files for $315M IPO
Il Makiage and SpoiledChild are Oddity Tech’s two consumer brands.
Oddity Tech’s combination of makeup brands, influencer marketing and a customized smartphone app helped power the company to a net income of $19.6 million worth of beauty products in the first quarter of the year—six and a half times its sales during the same quarter a year earlier.
This momentum has led the SoHo-based firm to plan its debut on the public markets, according to a form declaring its intentions that was filed with the Securities and Exchange Commission in late June. Oddity was founded in Tel Aviv and its U.S. headquarters are in New York City.
Oddity could be the first private local tech firm to IPO since software firm Braze ended the 2021 IPO boom when it listed on NASDAQ in November of 2021, though a date for the initial public offering is uncertain. Its earnings before interest, taxes and amortization were $39.5 million for the full year of 2022.
https://www.crainsnewyork.com/technology/beauty-and-tech-platform-oddity-files-315m-ipo