By Katie Roof.
Native Deodorant, a San Francisco-based natural deodorant brand, just sold to Procter & Gamble for $100 million cash.
Native, which positioned itself as an online distributor of deodorant, had received just $500,000 from Azure Capital Partners. With more than a million customers since launching 2.5 years ago, Native was able to use profits from the business to reinvest in growth.
P&G already owns popular deodorant brand Secret, but must have felt that Native could be a leader amongst consumers who are conscious of ingredients. (There are some concerns that traditional deodorants may cause cancer.)
Read more at Techcrunch.