The founder of Hatchbeauty left and sold his shares to private investors

Industry speculates that Ben Bennett probably chose to leave the company because of internal struggle. On April 2, Hatchbeauty, announced that co-founder Ben Bennett resigned from the company and sold his shares to Lion Capital, a private equity fund. Specific transaction information was not released. The industry speculates that Ben Bennett probably chose to leave the company because of internal struggles. Rumors say that in May last year, Hatchbeauty employees posted on social media Instagram that the company was experiencing infighting. At present, the account has been set up in the privacy mode.

Hatchbean was founded by Ben Bennett in 2009, headquartered in Los Angeles, is a cosmetic health product development and production company. Shortly after its founding, Tracy Holland joined the company as a partner and CEO. Hatchbeauty not only owns its own brand, but also cooperates with other retailers and cosmetics brands. The brand includes hairdressing brand Orlando Pita Play, makeup artist Kristofer Buckle, the same name high-end beauty makeup brand, nail art division Jenna Hipp, the same name environmental nail polish brand, natural beauty brand Found Beauty and actress Salma Salma beauty makeup and skin care brand. In 2016, the industry expects annual sales of Hatchbeauty to be between $100 million and $200 million. The funds obtained will be mainly used to recruit new managers. Later this month, three new executives will join Hatchbeauty's team to manage sales, digital technology and marketing teams.

Tracy Holland said that Lion Capital had rich experience in developing consumer brands. Their development advice, infrastructure and technological tools will ensure the rapid growth of Hatchbeauty in the future. They are more like strategic partners than investors, and she is honored to work with Lion Capital. Matthew Nordby, a partner of NbspLion Capital, said Tracy Holland had a good judgment and business sense for the cosmetics industry. They are very honored to be able to work with Hatchbeauty.