Sara Blakely celebrates Spanx’s Blackstone deal by giving all employees first class plane tickets and $10,000

When Sara Blakely sold a majority stake in Spanx to Blackstone last week, the deal valued the shapewear company at $1.2 billion and made the founder a billionaire once more. (Her net worth had reportedly dipped into the nine digits in 2020.)

“People have asked me for 20 years, ‘When will you sell Spanx?’ And for 20 years I would say…‘I’ll just know.’ Well that day is today,” she said in an Instagram post on Wednesday. Blakely, who will retain an undisclosed stake in Spanx and become its executive chair, famously bootstrapped the shapewear company for $5,000, conceiving of its trademark compression shorts after cutting the feet off a pair of control-top pantyhose. Since founding the company in 2000, she’d declined outside investment until last week’s Blackstone deal.

Spanx employees given $10,000 and two first-class plane tickets

The chief executive and founder of shapewear company Spanx has surprised employees with two first-class plane tickets and $10,000 each to celebrate the company’s $1.2 billion deal with Blackstone.

Spanx founder Sara Blakely surprised employees with the news, she revealed in a post on her verified Instagram account Friday.
In the video, Blakely spun a globe, before revealing that she had bought each of her employees two first-class plane tickets to anywhere in the world.
She added: “If you go on a trip you might want to go out to a really nice dinner, you might want to go out to a really nice hotel, and so with everybody’s two first-class tickets to anywhere in the world, you are each getting $10,000.”

“I really want every employee to celebrate this moment in their own way and create a memory that will last them a lifetime! Cheers to 21 years of magic and many more to come,” she wrote on Instagram.
Blakely also pointed out that although 50% of entrepreneurs are women, only 2.3% of venture capital funding goes to women.
In her toast, she paid tribute to “the women that came before me, and all of the women in the world who have not had this opportunity.”
Blakely has said that when she founded Spanx in 2000, she did so with $5,000 in savings.
Last week, private equity firm Blackstone said it would take a majority stake in the brand. Financial terms were not disclosed, but the firms noted the eight-figure valuation in a news release.
Shapewear is often worn as a figure-hugging undergarment that smooths,

slims or otherwise alters body shape. The global compression and shapewear market is expected to reach $7 billion by 2030, according to Allied Market Research.

Spanx boss gives first class tickets and $10,000 to all her staff

The chief executive and founder of women’s shapewear company Spanx celebrated a new billion-dollar deal by giving first class tickets and $10,000 (£7000) to every employee.

Sara Blakel posted a video on her Instagram last week in which she thanked her employees, following the shapewear company’s new deal with investment giant Blackstone, which has purchased a majority stake.

The company — founded in 1998 with a capital of £3,600 — was valued at $1.2bn (£870m) in the deal.

“This is a very big moment for each and every one of you, and I want to toast the women that came before me and all of the women in the world who have not had this opportunity,” she said.

Ms Blakely then made the announcement that she was giving each of her employees two first class flight tickets to any location of their choosing along with $10,000 (£7000) to spend on the trip.

The news was greeted with cheers and tears from Spanx employees as Ms Blakely herself got emotional during her speech.

She said she started the company from the money she got selling a fax machine. She wrote at that time that Spanx would one day be worth $20m. “And everybody laughed at me,” she added.

“It was an emotional announcement filled with happy tears acknowledging how far we’ve come,” Ms Blakely wrote in a caption posted to Instagram. “And then the tears really started to flow when I surprised everybody with 2 first class @delta plane tickets to anywhere in the world and $10,000 cash to spend on the trip.”

“I really want every employee to celebrate this moment in their own way and create a memory that will last them a lifetime! Cheers to 21 years of magic and many more to come,” she added.

Spanx CEO gives all employees £7,000 and first-class plane tickets after securing deal

“So to stand here today and think about what we’ve been able to create and what we’ve been able to do by being authentic and kind, and deliver amazing products to women, to be able to use very feminine principles in a very masculine space…this marks a moment for female entrepreneurs.”

She goes on to: “toast the women before me, and all of the women in the world who have not had this opportunity.”

Speaking to her employees, she says: “I have bought each one of you two first-class tickets to anywhere in the world.”

Spanx CEO: Thanks for Working for Me, Everyone—Here’s $10,000 and 2 First Class Tickets Anywhere

Celebrating its new $1.2 billion valuation, the CEO of Spanx, a US shapewear company, surprised its employees by gifting two first-class plane tickets and $10,000 each.

On Wednesday, Spanx announced that the private equity firm Blackstone would buy a majority stake in the company, a deal valuing it at $1.2 billion.

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