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Rihanna s Savage X Fenty is valued at $1billion as she sparks cultural appropriation uproar in topless social media post
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Rihanna s Savage X Fenty brand is now worth $1billion
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Uber Technologies Inc. today said it has acquired alcohol delivery startup Drizly for $1.1 billion in stock and cash.
Founded in 2012, Drizly offers alcohol delivery in 1,400 cities across the U.S. and Canada. The company works directly with local beer, wine and spirit merchants to offer thousands of “new, local, well-known and not-so-well products.” Drizly claims to deliver alcohol in under 60 minutes and it also operates a last-minute alcohol gift service.
Coming into its acquisition, Drizly had raised $119.6 million in venture capital funding from investors that included Tiger Global Management, Avenir Growth Capital, Polaris Partners, Accomplice, First Beverage Group, Fairhaven Capital Partners and Cava Capital.
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Rihanna is now looking to raise another $100 million USD for her lingerie line Savage x Fenty.
According to new reports, the artist hopes to raise funds through the help of Goldman Sachs in order to expand her current lingerie line further into Europe as well as entering the athletic wear market. While the brand brings in roughly $150 million USD in revenue, sources say it has yet to reach profitability, although the new round of funds will push its valuation up to $1 billion USD.
Founded back in 2018 as a joint venture between Rihanna and Techstyle Fashion Group, the lingerie brand has since raised over $70 million USD in funding, receiving backing from a series of investment firms including ACME Capital, Avenir Growth Capital, TriplePoint Ventures, and Jay-Z‘s own venture capital firm Marcy Venture Partners. Aside from drawing success predominantly from Rihanna’s celebrity, the brand is also revered for its focus on inclusivity and diversity, stocking sizes u
Rihanna s Fashion Label Savage X Fenty Partners With Goldman To Raise $100MM
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