(Bloomberg) — Vegan beauty startup Thrive Causemetics is working with an adviser to explore options including a sale or public listing, according to people familiar with the matter, as cosmetic companies attract investment from major brands.
The Los Angeles-based is working with Goldman Sachs Group Inc. and could be valued at several hundred millions of dollars in a potential transaction, said the people, who asked not to be identified as the information isn’t public.
The company, founded by entrepreneur Karissa Bodnar in 2015, is set to generate about $150 million in revenue this year with $20 million of annual earnings before interest, taxes, depreciation and amortization, they said. Discussions are at an early stage and may not result in any deal.
Representatives for Thrive and Goldman Sachs declined to comment.
As stay-at-home orders have kept customers away from salons and stores, e-commerce sales of beauty products have at companies such
