Oren Holtzman has been rewarded for his faith and leadership as CEO of the Israeli company ‘Oddity Tech,’ the parent company of Israeli cosmetics brand Il Makiage. Oddity deploys advanced technologies, including data science, machine learning models, and computer vision, to develop beauty products and get them to market.
The company’s shares leaped by 50 percent after going public last week on the Nasdaq. Existing shareholders expanded their offer for sale to meet the demand.
The beauty and wellness company raised $424 million by selling 12.1 million shares at a price of $35, revised from its initial price of $32-$34 per share.
Oddity’s market cap has reached nearly $3 billion, up from the $2 billion valuation at its initial public offering (IPO). Shares last Wednesday opened at a price that was 40 percent higher than the IPO price.
The company’s first-quarter revenue this year jumped 83 percent to $165.6 million compared to that of a year ago.
