Madison Color raises $4M in funding to ‘reinvent’ at-home hair color market
SAN FRANCISCO — Madison Color, a San Francisco-based company that is striving to reinvent the home hair care market and focuses first on home hair color through consumer-facing technology, has secured $4 million in funding, the company has announced.
Investment firm True Ventures led the funding round. Maveron LLC, a consumer-only venture capital firm, and angel investors also participated in the round. The company also announced the addition of True Ventures partner Jon Callaghan to its board of directors. Madison Color will debut in the fall of this year.
The hair care business is a $48 billion annual market and hair color alone represents a market of $15 billion, with more than 45 million U.S. women coloring their hair at home, the company stated.
Madison Color intends to reinvent the business, starting with producing and delivering products free of ammonia and other potentially harmful chemicals directly to consumers’ homes. Madison Color will also incorporate cross-platform technology including Web, mobile and tablet, with a goal of revolutionizing the home hair care experience.
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Nutrition 21 successfully challenges competitor comparison claims as unsubstantiated
NEW YORK — The National Advertising Division last week recommended that Interhealth Nutraceuticals discontinue certain claims for the company’s Zychrome dietary supplements, products that are promoted for the management of insulin levels.
Print and internet claims made by Interhealth for its Zychrome chromium compound, also known as chromium dinicocysteinate, were challenged by Nutrition 21, the manufacturer of a competing product, Chromax, a chromium picolinate product. Interhealth had been making comparison claims against the supplement ingredient in Chromax.
Following its review of the evidence in the record, NAD recommended that the advertiser discontinue all claims at issue, with one exception: CDNC is a new form of chromium compound, a fact that the advertiser is free to promote. However, NAD recommended that the advertiser modify its “next generation” claims to avoid conveying the message that Zychrome is superior to chromium picolinate.
InterHealth Nutraceuticals, in its advertiser’s statement, reported the company “will modify advertising for Zychrome in accordance with the NAD’s recommendations.”
NAD is an investigative unit of the advertising industry’s system of self-regulation. It is administered by the Council of Better Business Bureaus.
Reports: Valeant, Actavis deal put on hold
NEW YORK — A proposal by Canadian drug maker Valeant Pharmaceuticals International to purchase generic drug maker Actavis has fallen through, according to published reports.
According to reports, Valeant was planning to pay more than $13 billion in stock to acquire Actavis, but the deal was put on hold because the companies could not agree to terms of the deal. The deal would create a company worth about $35 billion.
Actavis became the world’s third-largest maker of generic drugs last year when U.S.-based Watson Pharmaceuticals acquired Switzerland-based Actavis. The company announced in January that it would change its name to Actavis.