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Jessica Alba’s The Honest Company Is Working on an IPO

Photo: Donato Sardella/Getty Images

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Jessica Alba's billion-dollar startup The Honest Company is getting set to go public, Bloomberg reports. Bloomberg's sources say that Alba and Brian Lee, Honest Co.'s CEO and co-founder, are working with Goldman Sachs and Morgan Stanley on an IPO for the natural product line.

This past year, Alba and Lee's The Honest Company expanded into beauty with an 83-piece skincare and cosmetics line. In 2014, the brand got a big boost when its products got picked up at Target stores nationwide and Target's website.

It wasn't all smooth sailing, though. The company also weathered a controversy in 2015 over the effectiveness of its sunscreen and was hit with a lawsuit by consumers who claimed the products' ingredient lists were "deceptively and misleadingly" labeled.

Nevertheless, Bloomberg reports that a funding round last year valued The Honest Company at about $1.7 billion. No wonder Alba's nickname when she checks into hotels and makes restaurant reservations is "Cash Money."

Alba is also on the cover of Cosmo for March, with an interview that includes her career tips. "I'm in a man's world in business. But I know what women want — [men] don't," she tells Cosmo. "When we were talking about package designs, I was like, 'Are you really giving me notes on packaging for feminine care? I literally can't with you."