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Grove Collaborative

grove.co

Founded Year

2016

Stage

Reverse Merger | IPO

Total Raised

$453.01M

Revenue

$0000 

About Grove Collaborative

Grove Collaborative (NYSE: GROV) is an online retailer that specializes in sustainable/natural household essentials. The company sells natural and environmentally friendly home and personal care products, and makes its own lines of cleaning supplies, soaps, and tree-free paper goods. The company was founded in 2016 and is based in San Francisco, California.

Headquarters Location

1301 Sansome Street

San Francisco, California, 94111,

United States

914-844-5102

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Research containing Grove Collaborative

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Grove Collaborative in 2 CB Insights research briefs, most recently on Feb 2, 2022.

Expert Collections containing Grove Collaborative

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Grove Collaborative is included in 3 Expert Collections, including E-Commerce.

E

E-Commerce

10,413 items

T

Tech IPO Pipeline

282 items

Track and capture company information and workflow.

C

Cleaning & Sanitation Tech

346 items

These companies are featured in our Tech Market Map Report — New Products & Services For Retail In Cleaning & Sanitation Tech.

Grove Collaborative Patents

Grove Collaborative has filed 7 patents.

The 3 most popular patent topics include:

  • Cleaning product brands
  • Cleaning products
  • Honeycombs (geometry)
patents chart

Application Date

Grant Date

Title

Related Topics

Status

2/4/2021

9/6/2022

Laundry detergents, Cleaning products, Laboratory equipment, Cleaning product brands, Unilever brands

Grant

Application Date

2/4/2021

Grant Date

9/6/2022

Title

Related Topics

Laundry detergents, Cleaning products, Laboratory equipment, Cleaning product brands, Unilever brands

Status

Grant

Latest Grove Collaborative News

Grove Collaborative refinances debt with $72M term loan

Jan 3, 2023

Published Jan. 3, 2023 Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback . Dive Brief: Following rough performance since going public in June , Grove Collaborative announced on Dec. 27 that it refinanced its existing debt with a $72 million four-year term loan, according to a company press release. The loan — which the company says will be used in its push toward profitability — matures in December 2026, with the principal repayment period starting in July 2025, per the release. Grove Collaborative’s new financing also brings in Structural Capital and Avenue Sustainable Solutions Fund as new capital partners. Dive Insight: Grove Collaborative — a consumer products company focused on sustainability — is banking on its latest debt refinancing to bring it to profitability. “We are pleased to announce this agreement, which provides greater financial flexibility to our cash and liquidity position,” Stuart Landesberg, co-founder and CEO of Grove, said in a statement. “This transaction better positions Grove for long-term success, enabling us to execute against our strategic value creation plan with the goal of achieving profitability in 2024.” The company is starting the new year after receiving a delisting notice from the New York Stock Exchange last month. While it has only been publicly trading for about seven months, Grove Collaborative was told it wasn’t in compliance with the NYSE requirement to be trading at an average closing share price of at least $1.00 over a 30-day period. At the time of publication, the company’s stock was trading at $0.40. Its third-quarter earnings in November showed net revenue dropped more than 18% year over year to $77.7 million, but it switched from a net loss to a profit of $7.7 million. The company also raised its full-year outlook, expecting net revenue between $313 million and $320 million. The company slashed its 2024 growth expectations in June , cutting its outlook from $600 million in revenue to between $330 million and $360 million. Grove Collaborative was focused on expanding wholesale partnerships during 2022. The company announced in September that it would double its retail presence through a CVS  partnership, and struck a new deal with Kohl’s in July. The company also brought in some new support throughout the year, hiring former Unilever executive Sergio Cervantes as its Chief Financial Officer and adding Drew Barrymore to its list of investors in April.

Grove Collaborative Frequently Asked Questions (FAQ)

  • When was Grove Collaborative founded?

    Grove Collaborative was founded in 2016.

  • Where is Grove Collaborative's headquarters?

    Grove Collaborative's headquarters is located at 1301 Sansome Street, San Francisco.

  • What is Grove Collaborative's latest funding round?

    Grove Collaborative's latest funding round is Reverse Merger.

  • How much did Grove Collaborative raise?

    Grove Collaborative raised a total of $453.01M.

  • Who are the investors of Grove Collaborative?

    Investors of Grove Collaborative include Virgin Group Acquisition II, Drew Barrymore, MHS Capital, Mayfield, Norwest Venture Partners and 19 more.

  • Who are Grove Collaborative's competitors?

    Competitors of Grove Collaborative include Public Goods, everdrop, HCI Cleaning Products, Blueland, MIWA and 14 more.

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