In the third quarter, the company had revenues of $751m and a net income of $65.7m. Its Jonas division has a portfolio of more than 70 companies in 20 verticals worldwide, including salon brands that serve 45,000 premises globally.
According to a report in the Sunday Business Post, Constellation acquired WhatSalon for around €15m.
Sales for salons
WhatSalon was founded in 2013 as an app to connect consumers in real time with beauty salons and hairdressers. The founding team includes David O’Flynn and Kieran Walsh, and the app allows consumers to access last-minute hair and beauty appointments in high-quality local salons.
CEO O’Flynn is the CEO and founder of Tolisons Private Equity, specialising in early-stage technology investments. He was also a governor of the University of Limerick and chief financial officer of HKPB Scientific, and is a founding member of the Irish Chapter of Entrepreneurs’ Organisation. It is understood that O’Flynn will oversee the roll-out of WhatSalon in the UK next year.
Walsh previously founded Frownies.ie and BeautyMatters.ie, and has a track record in distributing beauty products and working with retailers such as Avoca, The Loop, Sam McCauley Chemists and McCabes. He signed a deal in 2012 to represent Alan Sugar’s beauty ranges, including Stylfile and Tropic Skincare.
Investors in WhatSalon include North Cork Enterprise Board, Enterprise Ireland and SOSV as well as private investors.
This article first appeared on www.siliconrepublic.com and can be found at:
Disclosure: SOSV is an investor in Silicon Republic
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