Wahanda, the European hair and beauty marketplace, has seen an exit of sorts. Japan’s Recruit Holdings, which already owned 10 percent of the London-based startup, has acquired a further 70 percent share for £112.5 million (~$171m), in a deal that sees Wahanda’s other backers cash out.
These include Fidelity Growth Partners, Ambient Sound Investments, 14W and Lepe Partners, along with private investors, including Brent Hoberman (founder of Lastminute.com) and Stefan Glaenzer (Partner at Passion Capital).
The acquisition means that Wahanda was valued at approximately $222 million, while the startup’s founder and CEO, Lopo Champalimaud, and its management team also retain a stake in the company, which I understand to be the remaining 20 percent.
Wahanda is thought to have previously raised a total of $37.6 million, so we can safely consider this a decent European exit, albeit not quite a home run for investors.
Meanwhile, Recruit Holdings, which owns a similar site, Hot Pepper Beauty…
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