Gwyneth Paltrow’s startup is gaining some serious traction with venture capitalists.
Goop, a content and commerce-focused website, has received $50 million in Series C funding from NEA, Lightspeed Venture Partners, and Felix Capital. That brings the total investment in the company to $82 million—and gives Goop a valuation of $250 million.
Paltrow is hands-on with the company, acting as CEO and creative director. The company doesn’t share specific financial figures, but tells Coins2Day it has tripled its revenue for the past two years and is on track to more than double revenue in 2018. It plans to use the new capital to fuel its international rollout.
Goop has been criticized, though, for some of the products it sells and promotes, including water bottles that use crystals to “infuse” the water (which sell for $80 and up), a $43 shower cap and “child- calming mist” spray.
Goop, in the past year, has come under fire from both NASA and advertising watchdog group Truth in Advertising for claims about some of its products.
That controversy, though, has done nothing to dissuade investors.
