Jessica Alba's diaper business valued at $1B ahead of IPO

The Honest Co., an eco-friendly diaper business co-founded by Hollywood actress Jessica Alba, has been valued at $1 billion as it prepares to file for an initial public offering.

The company specializing in "chemical-free" baby products has raised $70 million in investments and expects full-year revenue to triple to $150 million, according to The Independent.

The company sells products at Whole Foods, Target, Buy Buy Baby and Nordstrom in the U.S., although roughly 80 percent of sales come from customers who subscribe to a monthly delivery service of nappies and baby wipes.

Read more from The Independent.