The Wall Street Journal: Investors throw Birchbox a $15 million lifeline

Birchbox Inc. said Tuesday it has received $15 million from current investors, an inflow of cash to help the online beauty company reach profitability later this year.

The funding round is structured as a convertible note, a type of investment that can be exchanged later for shares. It is the first time the New York-based company has secured funding since April 2014, when a $60 million investment valued it at $485 million.

Birchbox, which ships boxes of beauty samples for $10 a month, has struggled with increased competition and a difficult funding market. The company has dismissed about a quarter of its workforce in two rounds of layoffs this year and parted ways with several senior executives.

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