Viking Global will take a majority stake in the cosmetics subscription service, once valued at $485m, wiping out other investors including Comcast Ventures.
Hedge fund Viking Global Investors has paid $15m for a majority stake in Birchbox, the US-based cosmetics delivery service backed by mass media group Comcast, Recode reported on Tuesday.
The company had raised $87m in equity and convertible debt financing from investors including Comcast’s corporate venturing subsidiary, Comcast Ventures, but sources told Recode the deal will wipe out its existing investors, which will exit with nothing.
Birchbox operates a service where subscribers receive boxes of beauty product samples which they…
