The model, social media star–and wife of singer Justin Bieber–launched Rhode less than three years ago. On Wednesday afternoon, publicly traded e.l.f. Beauty announced that it is acquiring Hailey Bieber’s skincare and makeup company Rhode in a deal that is potentially worth $1 billion,

Elf Beauty Inc. is acquiring Hailey Bieber’s Rhode beauty brand for $1 billion. The deal is for $800 million in cash and stock, with an additional $200 million payout based on R

M odel and entrepreneur Hailey Rhode Bieber came up with a billion-dollar idea—and now cosmetics giant e.l.f. Beauty is paying that sum to acquire it. On Wednesday, e.l.f. Beaut