Watch CBSN Live

Lady Gaga starting cosmetics company Haus Beauty, reports say

Lady Gaga apparently is looking to add makeup mogul to her resume. The singer's company, Ate My Heart Inc., wants to trademark a line of cosmetics called Haus Beauty, according to celebrity gossip site Blast. 

And while the startup doesn't yet have any customers, it does have financial backing from Lightspeed Venture Partners, a Silicon Valley venture capital firm, multiple sources told Recode.

In addition to investing in Lady Gaga's new venture, the investment firm also made an early bet on Jessica Alba's Honest Co., while the Lightspeed partner said to be leading the investment in Haus Beauty also backed Gwyneth Paltrow's startup, Goop.

By stepping into cosmetics, the musician born Stefani Germanotta is echoing moves by other female celebrities such as Alba and Kylie Jenner, whose makeup line helped the social media star accumulate an estimated $900 million, according to Forbes.

Rihanna has also had success with her Fenty Beauty line of cosmetics marketed for "all skin tones." 

Beyond the celebrity power, investment in beauty startups is booming, with funding of privately held beauty companies already at $555 million this year, surpassing the 2017 total of $531 million, according to Recode, which cited data from research firm CB Insights.