Viking Global Snaps Up Major Stake In Birchbox

Direct-to-consumer subscription beauty business, Birchbox is heavily in debt and has been seeking a buyer since last summer. After talks with QVC failed to reach an agreement, Birchbox has sold the majority of its shares to Viking Global, a hedge fund investor that has committed $15 million investment. Other venture capital investors, including Accel Partners and First Round Capital, agreed the deal but will likely exit empty-handed. Birchbox CEO and co-founder Katia Beauchamp will keep her position post-acquisition. Birchbox assured that there will be no layoffs associated with the deal. With over 2.5 million customers across six countries, Birchbox has been a forerunner in subscription commerce since its founding in 2010. [Image Credit: © Birchbox]