Skims is believed to be raising capital at a valuation of around $4 billion USD.
👉 Background: Skims is Kim Kardashian's brand that launched in 2019. We're talking all things bras, loungewear, and shape wear, which has been boosted by Kimmy K's 360+ million Instagram followers.
👉 What happened: And it seems to be working... Skims has reportedly raked in around $500 million USD in revenue in 2022 and it is believed to be raising capital at a valuation of around $4 billion USD.
👉 What else: This fundraise is expected to be Skims' final capital raise before it goes public within a year.
💡A pre-IPO capital raise is when a company raises money in the lead up to its planned IPO. The buyers are typically private equity firms, hedge funds, or other companies that can invest big dollarydoos.
💡And this type of capital raise is meant to work well for both sides.
💡For Skims, it means they get more capital to fuel growth, invest in new initiatives, strengthen their balance sheet ahead of going public, as well as getting assistance on important pre-IPO governance matters. And for their investors, it means getting a discount to the expected IPO price.
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