-28%

est. 2Y upside i

E-CommerceSeries B

Rank

#507

Sector

D2C Beauty / Subscription E-commerce

Est. Liquidity

~2Y

Data Quality

Data: Medium

Beauty Pie operates with a compelling D2C subscription model, disrupting traditional beauty pricing.

Last updated: March 10, 2026

Bull (35%)+300%

Aggressive product expansion, successful international market entry, and strong app adoption drive membership and revenue growth to over $250M. The company achieves a valuation of $890M+, nearing its 'global powerhouse' potential, justifying a strong exit.

Base (45%)+50%

Beauty Pie maintains steady growth in its core D2C subscription model, expanding product lines and retaining members. Revenue grows to approximately $150M, leading to an acquisition or next funding round at a $330M+ valuation.

Bear (20%)-60%

Increased competition from D2C brands and traditional players, coupled with rising customer acquisition costs and churn, slows growth. A challenging market results in a down round or acquisition at a valuation of $90M, significantly eroding common stock value due to the substantial liquidation preferences.

Est. time to liquidity~2.0 years

Preference Stack Risk

severe

Funding Intensity

76%

Investors hold $170M in liquidation preferences, meaning common shareholders would only see returns on value exceeding $170M. In a $223M exit, common shareholders would split $53M.

Dilution Risk

high

As a Series B company with its last funding round in 2021, another funding round is highly probable before an exit, leading to further dilution for existing equity holders.

Secondary Liquidity

limited

Accredited investors can access pre-IPO shares through platforms like EquityZen, indicating some limited secondary market activity.

Questions to Ask at the Interview

Strategic questions based on Beauty Pie's data — designed to show you've done your homework.

  • 1

    “Given the '£964 million global powerhouse' statement in recent news, how does the company reconcile this with the $223M analyst estimate, and what is the internal view on current valuation and growth trajectory?”

  • 2

    “With a moderate competitive moat and medium incumbent threat, what are Beauty Pie's key strategies to maintain and grow market share against both traditional luxury brands and emerging D2C competitors like Glossier and The INKEY List?”

  • 3

    “Considering the Series B funding in 2021 and the current market conditions, what is the anticipated timeline and strategy for a liquidity event (e.g., IPO or acquisition), and how is the company managing potential future dilution for employees?”

Community

Valuation Sentiment

Our model estimates -28% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.