Do you know what the founders of Bumble, Spanx, and Hello Sunshine have in common?
What does Whitney Wolfe Herd of Bumble, Sara Blakely of Spanx, and Reese Witherspoon of Hello Sunshine have in common? HINT: it starts with a 'B'.
What does Whitney Wolfe Herd of Bumble, Sara Blakely of Spanx, and Reese Witherspoon of Hello Sunshine have in common? HINT: it starts with a 'B'.
Ann Chung
You're right, it's Blackstone! Ann Chung, the Managing Director of Blackstone Growth, leads an all-female team that took a majority stake in these three companies in 2021. She's from Virginia, started out as a bank analyst, got an MBA in Wharton, and is now married with 2 small kids. Chung is passionate about consumer-related companies and wants to “build great brands that stand for something”.
So, what's the valuation?
- Bumble was acquired in 2019 for $3B and is currently valued at $5B.
- Spanx was valued at $1.2B after acquisition from generating $400M revenue in the previous year.
- Blackstone spent $500M on a deal with Hello Sunshine, valuing the company at $900M.
When women support each other, amazing things can happen.
Sources
- Passion with Purpose: Ann Chung (McIntire ’03), Managing Director at Blackstone Growth
- An interview with Blackstone Growth’s Ann Chung
- Bumble Revenue and Usage Statistics (2021)
- Blackstone Buys Majority Stake in SPANX, Inc.
- Reese Witherspoon’s Hello Sunshine Acquired By Blackstone-Backed Venture Run By Kevin Mayer & Tom Staggs
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