Deals
TPG-Backed Makeup Startup Ipsy Is Considering a Sale or IPO
- Monthly ‘glam bag’ service could fetch $2 billion in a sale
- U.S. listing also being weighed in ‘dual-track’ process
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TPG-backed makeup-subscription service Ipsy is considering a sale or an initial public offering, according to people familiar with the matter.
Ipsy, as Personalized Beauty Discovery Inc. is known, may pursue an IPO if an attractive offer doesn’t materialize in a so-called dual-track process, in which a company pursues both options simultaneously before deciding how to proceed, said the people, who asked not to be identified because the matter is private. No decision has been made and Ipsy could remain a private, standalone company, they said.