Jessica Alba is going public

Jessica Alba’s online retailer, The Honest Company, is looking to go public.

According to Bloomberg’s Lizette Chapman and Alex Barinka, The Honest Company is working with Goldman Sachs and Morgan Stanley on the deal.

Companies have been slow to go public this year.

There were no initial public offerings in the US in January, making it the first IPO-free month since September 2011, according to Dealogic.

Two biotech companies finally kicked things off this week, each going public on Wednesday.

Landing the deal with The Honest Company represents a big win for Goldman Sachs and Morgan Stanley, two of the top investment banks for tech.

Goldman Sachs topped league tables in 2015 for tech banking revenue, while its rival Morgan Stanley came in second, according to Dealogic.

Environmental and social goals

Alba cofounded the environmentally conscious Honest Company with serial entrepreneur Brian Lee in 2011.

It sells natural and eco-friendly household products like premium diapers and toothpaste.

Last year, the Honest Company was valued at $1.7 billion after raising $100 million. It raised $70 million in 2014.

As Business Insider’s Maya Kosoff wrote, “Alba has been able to leverage her celebrity to throw the company into the limelight, garnering attention for her environmental and social goals.”

Goldman Sachs and Morgan Stanley declined to comment. We’ve reached out to The Honest Company for comment.

Read the Bloomberg article here.

NOW WATCH: Parents are complaining that Jessica Alba’s Honest Company sunscreen doesn’t work

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