Oddity, the owner of Il Makiage and Spoiled Child, is preparing to go public on the Nasdaq stock exchange as it files for an IPO.
The beauty tech company, which achieved billion-dollar unicorn status last year, has not yet determined the price range and the number of shares that will be on offer.
However, Oddity initially unveiled its IPO-linked digital security token last year, which is convertible into a share of Oddity stock at a 20% discount to the initial IPO price.
The proposed IPO is subject to market conditions, and will be led by Goldman Sachs, Morgan Stanley and Allen & Company.
Book-running managers, meanwhile, include BofA Securities, Barclays Capital and Truist Securities.
Il Makiage has become a viral hit with consumers thanks to its customised foundation range, powered by Oddity’s Powermatch artificial intelligence (AI) colour matching engine.
Oddity’s latest move comes after it recently acquired biotechnology start-up brand Revela for US$76m this April, further investing into AI capabilities for beauty and personal care applications.
Read more:
- Il Makiage announces beauty partnership with Arsenal Women
- Il Makiage owner breaks into AI skin care with new brand Spoiled Child
- Johnson & Johnson’s consumer health unit Kenvue files for IPO
