Wednesday afternoon, Hailey Bieber confirmed that she was selling her beauty company, Rhode, to e.l.f. Beauty for $1 billion. Hours later, Hailey stepped out in LA – those are the photos in this post. She attended an event for Audemars Piguet. Given the sheer volume of photos of Hailey entering and leaving the event, it feels like Hailey called up every paparazzo in the greater LA area because she wanted to show off her business triumph. As I said before, I don’t have an issue with Hailey starting a “billion-dollar company” and selling it in three years. She was smart to do so, and I’m glad she’s getting paid. I’m a Hailey-and-Justin defender – I think they get a raw deal a lot of the time, and people make mountains out of molehills. That being said, Hailey sometimes lies. Take, for example, this People exclusive.

Hailey Bieber is in celebration mode. On Wednesday, May 28, the rhode founder, 28, announced that e.l.f. Beauty would be acquiring her beauty brand in a lucrative $1 billion deal.

A source tells PEOPLE that Bieber didn’t even have to look for a buyer.

“This deal came to her,” the source shares. “She’s incredibly excited about this new step. She’s proud of how far rhode has come, and she truly believes that teaming up with e.l.f will help take the brand to the next level. The resources and support they’re bringing to the table are everything she’s been hoping for.”

The insider continues, “To be acquired and recognized by such a powerful global company feels like such an honor to her. She can’t wait to take rhode global. She also received a generous cash payout as part of the deal.”

Following the big announcement, Bieber stepped out for a celebratory dinner in Los Angeles in a black strapless mini dress by Saint Laurent by Anthony Vaccarello. She also wore black slingback pumps and a pair of black sunglasses.

[From People]

The lie is that Hailey “didn’t even have to look for a buyer.” That is complete horses–t. All year, whenever any mainstream outlet or industry outlet wrote about Hailey or Rhode, they talked about how she was actively looking to sell Rhode. It wasn’t a secret, and Hailey was publicly pitching her desire to sell. It was even mentioned in her recent Vanity Fair cover profile! Now, I’m sure that Hailey had interest from other companies, and maybe she had her pick of buyers, but they’re acting like e.l.f. Beauty came to her out of nowhere with an offer.

As for the “generous cash payout” – I won’t pretend to know how Rhode is structured and what Hailey’s ownership stake is in the company. I would assume that e.l.f. literally bought out her stake in the company, thus the “cash payout.”

Photos courtesy of Backgrid.