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Silicon Valley backs Lady Gaga’s beauty startup
The investment, carried out by Lightspeed Venture Partners, comes amid an era where top female celebrities turn their status into products -- namely cosmetics. Those include Kylie Jenner with her Kylie Cosmetics makeup line and Rihanna with Fenty Beauty.
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Lady Gaga at the 2016 American Music Awards at the Microsoft Theatre, LA Live on Nov. 20, 2016. (Shutterstock/Featureflash Photo Agency)
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aus Beauty, Lady Gaga’s major cosmetic startup, is already turning heads as one of Silicon Valley’s top venture capital firms is revealed to have made an early investment to the brand, as reported by recode.
The investment, carried out by Lightspeed Venture Partners, comes amid an era where top female celebrities turn their status into products -- namely cosmetics. Those include Kylie Jenner with her Kylie Cosmetics makeup line and Rihanna with Fenty Beauty.
Read also: Kylie Jenner, 20, on cusp of billionaire status: Forbes
This is not a first early bet for Lightspeed Venture Partners who have previously made early investments in companies such as Snap, Stitch Fix, and Jessica Alba’s Honest Company. Investments typically range from US$5 million to $10 million.
Investments in beauty startups are on the rise, with the largest number of 2017 deals being made in direct-to-consumer beauty brands. In research by CB Insights, this years’ funding of private beauty companies has reached a total of $555 million.
Though not yet launched, Haus Beauty is currently run by CEO Ben Jones, former chief digital officer at Honest Company. (sul/kes)
