Sales: $150 million (estimated).
Key Personnel: Jeremy Johnson, co-founder and chief executive officer; Jerrod Blandino, co-founder and chief creative officer; Eric Hohl, president.
Major Products: Color cosmetics.
New Products: Born This Way foundation, Melted metal liquefied metallic lipstick, Cocoa Contour face palette.
Comments: Last month, Weston Presidio sold its stake in the Too Faced Cosmetics to General Atlantic. The deal was said to be in the area of $500 million, according to industry sources; not a bad return, as Too Faced co-founders Jeremy Johnson and Jerrod Blandino sold off a majority stake of the firm they founded to Weston Presidio in 2012 for around $70 million.
According to Johnson, to continue Too Faced’s growth trajectory, “we were seeking a global thought leader experienced in partnering with founder-led, high growth companies, and the team at General Atlantic was a natural fit.”
With the investment, General Atlantic appointed Ken Stevens, former chairman of Ulta and Philosophy, to serve as chairman of the global beauty brand known for its fun spin on staple beauty products like Better Than Sex Mascara, Selfie Powders and Hangover Primer.