Sara Blakely put $5,000 into Spanx; 21 years later, it was valued at $1.2bn

In 2000, Sara Blakely was working as a door-to-door fax machine salesperson when she decided to start her own business with $5,000 from her savings. Her idea was to develop a new type of women's undergarment that would offer greater comfort and support. However, she had no formal business training, had never attended a business class and had no outside investors. Nonetheless, she went on to establish Spanx, a company that would eventually become a major name in women's clothing.Twenty-one years later, in October 2021, global investment firm Blackstone announced an agreement to acquire a majority stake in the company at a valuation of $1.2 billion. The deal marked a major change for a business that Blakely had built without raising outside investment.According to Blackstone, Blakely would retain a significant ownership stake and continue working with the company's existing management team.