Recode: Alibaba founders invest $20 million in U.S. retailer
Rent the Runway is flush with a new investment.
Blue Pool Capital, a financial firm that principally invests the wealth of Alibaba founders Jack Ma and Joe Tsai, has invested $20 million in the women’s fashion rental business Rent the Runway, Recode reported. The company was founded in 2009 as an online site where women could rent designer dresses for special occasions. It has since expanded its merchandise assortment to include more casual and workwear offerings. It also has added brick-and-mortar locations.
With the new funds, Rent the Runway is valued at a little less than $800 million, the report said.
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Blue Pool Capital, a financial firm that principally invests the wealth of Alibaba founders Jack Ma and Joe Tsai, has invested $20 million in the women’s fashion rental business Rent the Runway, Recode reported. The company was founded in 2009 as an online site where women could rent designer dresses for special occasions. It has since expanded its merchandise assortment to include more casual and workwear offerings. It also has added brick-and-mortar locations.
With the new funds, Rent the Runway is valued at a little less than $800 million, the report said.
Click here for more.