From $5,000 to $1.2 billion: Spanx lands investment deal with Blackstone
From $5,000 to $1.2 billion: Spanx lands investment deal with Blackstone
By Ilya Banares | Bloomberg
Sara Blakely founded Spanx Inc. in 2000 with $5,000 of her personal savings earned from selling fax machines door-to-door. She just struck a deal with Blackstone Inc. that values the company at $1.2 billion.
Blakely, 50, will retain a significant interest in the Atlanta-based maker of shapewear and pantyhose, according to a statement from the two firms on Wednesday.…
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