The beauty subscription service was reportedly previously in talks with QVC about a takeover bid
Birchbox has sold a majority stake in the company to one of its long-term investors hedge fund Viking Global Investors.
The subscription beauty service has reportedly been up for sale since August 2017, and has been in talks with Walmart, QVC and other retailers for a potential takeover.
Founded by two Harvard Business School graduates, Katia Beauchamp and Hayley Barns, in 2010, Birchbox has gone on to raise nearly $90m in funding from Viking Global Investors, First Round Capital, Accel Partners, Aspect Partners and Consigliere Brand Capital.
“We started Birchbox in 2010 to redefine the way consumers discover and shop for beauty,” said Katia Beauchamp, CEO and co-founder of Birchbox.
“The next phase for Birchbox is about amplifying the impact we can have on our customer and accelerating our growth as a company.
“As an independent company with renewed investment, we are in a position to actively pursue plans that help further our mission and fuel our ambitious goals in the US and in our global markets.
“As part of that strategy, we are prioritising product innovation, the evolution of our digital experience and scaled partnership opportunities.
“We are incredibly excited about this new chapter for Birchbox and we look forward to continuing to grow and delight our community.”