Category Archives: Rent the Runway

Rent the Runway just opened its largest brick-and-mortar store yet

Who would have thought Rent the Runway would emerge as a competitor to The Wing and all traditional brick-and-mortar retail? Its newest store, complete with co-working space, shows it’s more than just a designer gown rental service. Shortly after landing a $125 million investment at a $1 billion valuation, Rent the Runway (RTR) has replanted roots in San Francisco, opening an 8,300 square foot West Coast flagship in the city’s Union Square neighborhood. Located on 228 Grant Avenue, the store is RTR’s fifth and largest location yet. […]

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Lyft’s IPO is hot, YC Demo Day, two new unicorns and what’s Boy Brow?

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week Kate Clark and Alex Wilhelm took us through an IPO, a big round, 943 startup pitches, two new unicorns and some scooter news. A very 2019 mix, really. Up first we took a peek at the latest from the Lyft IPO saga. Recall that Lyft is beating Uber to the public markets, and we can report that it’s having a good time doing so. The popular ride-hailing company, […]

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Rent the Runway hits a $1 billion valuation

Rent the Runway just closed a $125 million round led by Franklin Templeton Investments and Bain Capital Ventures. This round values the company at $1 billion. In total, Rent the Runway has raised $337 million in venture funding. “Shared, dynamic ownership is a movement that Rent the Runway has pioneered over the last decade and we’re excited to continue to lead the market and innovate our subscription service,” Rent the Runway CEO Jennifer Hyman said in a statement. Late last year, Rent the Runway opened a physical […]

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Rent the Runway opens physical store in San Francisco

Rent the Runway, the fashion startup that began as a rental service for special occasions and has since evolved over the last couple of years into a service for people also looking to spice up their everyday wear, just opened up its fifth physical, standalone location. The new location, in downtown San Francisco, enables Rent the Runway members to try on clothes, rent and return them. Rent the Runway’s launch of a standalone brick-and-mortar location in San Francisco comes after it first opened up a location inside Neiman […]

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Rent the Runway inks $200 million credit facility with Temasek

Rent the Runway today announced that it has partnered with Temasek for a $200 million credit facility. Founded in 2009, Rent the Runway lets users rent items of clothing for special events or occasions, bringing runway styles to folks without the cash to purchase the clothing outright. Rent the Runway started out by letting users rent their wares for about 10 percent of the item’s price. But in 2017, RTR introduced a subscription model, giving users unlimited rentals for $89/month. The model has already been proven by […]

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