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Spanx—Founded With $5,000—Is Now Worth $1.2 Billion in Blackstone Deal

Sara Blakely
Sara BlakelyPhotographer: Andrew Harrer/Bloomberg
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Sara Blakely founded Spanx Inc. in 2000 with $5,000 of her personal savings earned from selling fax machines door-to-door. She just struck a deal with Blackstone Inc. that values the company at $1.2 billion. 

Blakely, 50, will retain a significant interest in the Atlanta-based maker of shapewear and pantyhose, according to a statement from the two firms on Wednesday. She will continue to oversee daily operations alongside Spanx’s existing senior management team and will become executive chairwoman once the deal closes.