Dubbed “Oddity Token,” and built on Ethereum blockchain, the digital security will convert to discounted shares in Oddity at the time of an IPO. The token is being offered from Apr. 26 to May 11 and will not be tradeable, so investors will have to hold the token — which is embedded with data and smart contracts — until an IPO.
“We are building a new bridge to link traditional markets with the vibrant world of digital assets, where the innovation potential is huge,” said Oran Holtzman, co-founder and chief executive of Oddity, in a statement.
The debut of Oddity Token follows the company’s $1.5 billion valuation, after it closed a $130 million round led by tech investor Thomas Tull in January. Prior to the round, L Catterton was Oddity’s sole investor. Oddity launched its second beauty brand, youth-focused skin care line SpoiledChild, in February, after acquiring artificial intelligence start-ups Voyage81 in August 2021 and NeoWize in November 2019.
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