Her pseudoscience emporium just raised $50 million from investors in a Series C round. On paper, that means her company is worth an estimated quarter-billion dollars. They’re going to use the cash to go international.
… Goop will be expanding internationally to service the 35 percent of its readership that is based outside the U.S. The brand began shipping to Canada in December and hopes to ship to its European clientele later this year. Additionally, Goop wants to bring experiential retail and other marketing concepts overseas, because no one should have to miss out on the Goop-y fun.
According to a new report, Goop’s revenue has tripled over the past two years, and the company is on track to double revenue in 2018 thanks to e-commerce, advertising and retail. Moving forward, Paltrow’s company will make “significant investments in proprietary technology, new content verticals, standards and protocols” as well as new hires.
Paltrow’s “lifestyle” brand, for people with no critical thinking skills but plenty of cash, has an audience that’s gullible enough to make her wealthy. Remember: Her business doesn’t just sell frivolous items that have no effect. Goop promotes medically dubious ideas that cause real harm.
They also sell a $15,000 solid gold dildo. (Because why would your body ever settle for one worth only $14,500?)
Dr. Jen Gunter, a longtime critic of Goop, was disturbed by the investment round, telling me it wasn’t “an ethical way to make money or have conversations about health care”:
Snake oil and celebrity sell. From my experience at the “wellness” “health” event in New York, it seemed like a cult. People were willing to give the lack of science a pass. People who invest in GOOP are okay with a company who promotes an AIDS denialist, sells fake NASA [bandages], lies to women about bras causing breast cancer, and thinks that getting health advice from a man who talks with ghosts is swell.
It’s amazing how much money you can make when you don’t give a damn how many people you’re screwing over.
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