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THE WHAT? Oddity Tech Ltd., a magnificence and wellness agency, has raised a considerable $424 million via an preliminary public providing (IPO), surpassing expectations. Shares have been bought at $35 every, above the marketed vary, affirming the agency’s rising monetary attract.
THE DETAILS? Backed by L Catterton and its founder, Oddity’s profitable IPO brings its market worth to an estimated $2 billion. This sturdy valuation, up from $1.44 billion in 2022, illustrates Oddity’s profitable efficiency amidst a surge in consumer-oriented corporations going public. The agency’s income progress, primarily via its manufacturers Il Makiage and SpoiledChild, has been a crucial driver of this success.
THE WHY? This milestone cements Oddity’s place within the magnificence and wellness market and units the stage for its future progress. With Founder and CEO Oran Holtzman retaining important voting energy, the agency can leverage its monetary success and proceed its upward trajectory out there. The agency’s shares will start buying and selling on the Nasdaq International Market below the image ODD.
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