Snoo Crib Maker Happiest Baby Explores $1 Billion Sale
(Bloomberg) -- Happiest Baby Inc., the maker of a popular “smart” bassinet called Snoo, is exploring a sale, according to people with knowledge of the matter.
The Los Angeles-based company could be valued at about $1 billion, said one of the people, who asked to not be identified because the matter isn’t public. It could also consider an initial public offering, another person said. It is approaching $100 million in annual revenue, one of the people added.
A representative for Happiest Baby didn’t respond to requests for comment.
Happiest Baby says that its Snoo “smart sleeper,” which sells for $1,595, helps babies sleep longer and makes sure they don’t roll into an unsafe position, according to its website.
The company was co-founded by Harvey Karp, author of parenting book “The Happiest Baby on the Block.” It counts actors Scarlett Johansson and Justin Timberlake among backers, as well as venture capital firms Alphabet Inc.’s GV, Greycroft Partners, Lux Capital, Plus Capital and Obvious Ventures, according to its website.
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