Hollywood actress and entrepreneur Jessica Alba is bringing her consumer goods company Honest to Wall Street.
The company on Monday filed the paperwork for an IPO that aims to value Alba’s Honest at over $1.5 billion.
She co-founded Honest in 2011, which touts its baby products as a safer alternative to use than those that contain synthetic chemicals.
But Honest came under fire in 2016 for accusations of being dishonest with its labeling. A lawsuit claimed its products contained a harsh chemical that Honest pledged not to use.
It ultimately settled the lawsuit for more than $7 million for wrongly labelling ingredients in some products as natural, plant-based or chemical free.
Now it’s on the road to raising its visibility by becoming a publicly-traded company.
Honest plans to use the money raised from its stock market debut to expand its online business, push into foreign markets, make acquisitions and add to its products beyond the current list of sunscreen lotion, sanitizers and detergents.
The stock will list on the Nasdaq under the ticker symbol H-N-S-T.