Actor Jessica Alba's Eco-Friendly Company Values Near $2.1 Billion In Market Debut

Actor Jessica Alba company value, soared 44 percent in stock market debut: Alba is reportedly $122 million richer after the shares of The Honest Company soared 44 percent in their stock market debut on Wednesday, valuing the company at nearly $2.1 billion, according to Associated Press.

"Yesterday was a monumental day for The Honest Company as we officially became a public company," wrote Alba, who founded the company a decade ago after using baby laundry detergents that caused her allergic reactions, on LinkedIn. Along with detergent, the company sells eco-friendly personal care products including baby products such as diapers, wipes, moisturisers, mascara and vitamins.

The actor and former Maxim cover model's company reportedly gained $413 million on Initial Public Offering. Alba has been working very hard to keep up with the company's "clean and natural" ingredients - as it promotes the products - ever since she co-founded it in 2011. She holds $5.56 million shares, which according to the IPO rate roughly comes around $90 million.

According to Associated Press, the Los Angeles-based company's revenue rose 28 percent from the year before to $300 million in 2020. She claims her target customers are those eco-conscious parents who are aware of how wellness can define their whole life.

"I founded Honest on the belief that no one should have to choose between what works and what’s good for them. That’s why, since day one, as a woman of color, it has been my goal to build a diverse, inclusive, and ethical company based on the values of transparency, trust, sustainability and a deep sense of purpose in all that we do," the 40-year-old shared after the stock, trading on the Nasdaq under the symbol HNST, rose 7 percent to close at $23.

Alba further stated that her business cares about all people and mostly about the planet. She even thanked her employees for believing in her, "in our purpose and your dedication to our mission". She says she is very excited for this next chapter and for the future.

The company, based out of Los Angeles is now valued at $2.45 billion.

Alba, who has starred in films like Sin City and the Fantastic Four, has a 6.1 percent stake in The Honest Company that was worth nearly $130 million after the stock’s first day of trading.

Feature Image Credit: Yahoo Finance