Jessica Alba‘s Honest Company is no longer a unicorn. The consumer goods company is raising $75 million in new venture capital funding at a valuation that is 57 percent lower than its last round, according to a document filed by Delaware regulators.
The Honest Company‘s new round would be a Series E stock priced around $19.60 per share, which is more than half of the value of its Series D shares sold in 2015. That means the startup’s valuation will drop from $1.7 billion to below $1 billion. [ Inc. ]