Birchbox announced that hedge fund Viking Global Investors, a long-term investor, has acquired a majority interest in the company. As part of the deal, Viking Global will invest an additional $15 million in the company.

“The next phase for Birchbox is about amplifying the impact we can have on our customer, and accelerating our growth as a company,” said Katia Beauchamp, CEO and Co-Founder of Birchbox.

“We started Birchbox in 2010 to redefine the way consumers discover and shop for beauty. The company quickly grew from an exciting idea to a business that has materially shaped the beauty industry: today Birchbox operates in six countries, reaching more than 2.5M active customers, and partners with over 800 prestige brands. Additionally, 2017 was another record-breaking year for subscriber acquisition,” said Katia.

The news concludes several months of sale discussions with retailers including Walmart and others, and more recently QVC. At the time, it was reported that Birchbox had approximately $200 million in revenue.

Birchbox announced that it had finally become profitable in 2017 after a difficult year marked by challenge, in particular, acquiring new subscribers profitably.

Katia said that Birchbox will now be focusing on injecting newness in the business, in line with the company’s mission to make beauty discovery a delight.

“As an independent company with renewed investment, we are in a position to actively pursue plans that help further our mission and fuel our ambitious goals in the U.S. and in our global markets. As part of that strategy, we are prioritizing product innovation, the evolution of our digital experience, and scaled partnership opportunities.”

Katia will remain at the helm of the company.