Rent the Runway Co-founder on Building a Billion-Dollar Company

Brut America

When the Rent The Runway co-founders were looking for investors, one venture capitalist told them their idea was "cute."  Now, their company is valued at $1 billion and they want to see more investment in women entrepreneurs.  Learn more at: https://www.jetblack.com/

Transcript

00:00I think that momentum in the community we've built around the sense of female empowerment

00:04is what has driven and exploded our concept.

00:30We were raising venture capital money and we were doing it on a concept that was a female

00:40oriented business.

00:41Jen and I had at least one meeting where the VC thought what we were working on was very

00:46cute, kind of just like belittling the idea of renting clothing where in fact like fashion

00:51clothing is a huge industry and female consumers you know drive most all the purchase decisions

00:57and spend there.

00:58I think we've come a huge way but because it was so small to begin with it's also meant

01:15that some of those relationships have been super solidified and you know the whether

01:19it's investing in other female founded startups and trading notes on that or you know having

01:24networking events or asking for referrals of talent that you're hiring.

01:28So I'm very grateful for that built-in network that I think we all have each other's back.

01:42Now I'm a busy working mom, I have three kids and the work of managing a household and constantly

01:47you know getting everything done while being a working mom had just put such a strain on

01:52my time that I look for time-saving tools.

01:54So JetBlack is a $50 a month membership fee and once you become a member we take in some

02:01information and thereafter we can service you with the ease of a text message.

02:15This is a career jungle gym, it's not a career ladder.

02:18There's so many ways to evolve and grow your career and you will be much better at something

02:22if you actually love it, passionate about it, enjoy it.

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