Care/of, a startup selling vitamins and herbal supplements online, raised funds from investors including Goldman Sachs Group Inc.’s venture arm that value the company at $156 million, within striking distance of publicly traded retail chains that are among the industry’s leaders. The New York-based startup sells monthly subscriptions of vitamin packs on its website and advertises through Facebook and Instagram, following the playbook of direct-to-consumer brands in other industries like Casper mattresses and Warby Parker eyeglasses. Two years since launching, the company announced Tuesday that it had raised $29 million from investors including RRE Ventures.
The startup’s $156 million valuation isn’t far from Vitamin Shoppe Inc., with 3,860 employees and a market capitalization of about $203.5 million, or GNC Holdings Inc., which has a market value of $254.2 million with 6,400 employees. Care/of has about 100 workers, Chief Executive Officer Craig Elbert said. Read Complete Article