![]() The sum represented almost 7 times its 2021 revenue and more than 100 times its net income that year. ![]() What’s more, Mediterranean restaurant chain Cava (CAVA.N) and thrift-store operator Savers Value Village (SVV.N) have cracked open the stagnant IPO market for consumer-focused companies.ĭuring its last private fundraising round in January 2022, just after the Nasdaq Composite Index (.IXIC) peaked, Oddity was valued at $1.5 billion. Nearly all things AI have lifted stock prices. It’s an opportune time to capitalize on such aspects of Oddity’s business. AI also powers Revela, a biotechnology firm it bought in April that develops new molecules for cosmetics and skincare. In addition, it credits an expanding stockpile of customer data for rapid revenue growth, which increased 46% last year, to $325 million, and 84% in the first quarter of 2023 from a year earlier. His company sells concealers and eye shadows directly to shoppers online and touts that its technology teams account for 40% of headcount. These features should help put a dewy gloss on the valuation before the hype eventually fades.īoss Oran Holtzman fancies Oddity a digital disruptor to the vast appearance-enhancing industry. The Israeli beauty company home to the Il Makiage and SpoiledChild brands is highlighting the artificial intelligence behind its makeup and machine learning algorithms that help consumers pick the right shades. ![]() NEW YORK, July 6 (Reuters Breakingviews) - Oddity Tech has a sparkly foundation for its upcoming initial public offering.
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