Friday, October 29, 2021

How much did spanx sell for | valuation spanx founder sara blakely

spanx valuation spanx founder sara blakely spanx founder sara blakely, spanx company The owner of Spanx has sold her company for $1.5bn she's given all 500 staff $10,000 and two 1st class tickets to anywhere in the world, more company owners need to follow this example when they sell out.

How much did spanx sell for 2021

An 'and you get a car!' moment. When Sara Blakely sold a majority stake in Spanx to Blackstone last week, the deal valued the shapewear company at $1.2 billion and made the founder a billionaire once more. (Her net worth had reportedly dipped into the nine digits in 2020.)

“People have asked me for 20 years, ‘When will you sell Spanx?’ And for 20 years I would say…‘I’ll just know.’ Well that day is today,” she said in an Instagram post on Wednesday. 

Blakely, who will retain an undisclosed stake in Spanx and become its executive chair, famously bootstrapped the shapewear company for $5,000, conceiving of its trademark compression shorts after cutting the feet off a pair of control-top pantyhose. Since founding the company in 2000, she'd declined outside investment until last week's Blackstone deal.

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