Printer Friendly

Alibaba founders invest $20M in Rent the Runway, Recode reports.

Blue Pool Capital, a financial firm that principally invests the money of Alibaba founders Jack Ma and Joe Tsai, has invested $20M into Rent the Runway, Recode reports. According to research firm Lagniappe Labs, the round valued the women's clothing rental business, with new funds, at just under $800M, the report says. "I have huge respect for Joe and Jack and wanted to opportunistically involve them in the business as we embark on our biggest growth stage," Rent the Runway CEO Jennifer Hyman told Recode. "Given the global aspirations that we have - especially in Asia - I thought they would be very good people to have around the table." [Reference Link]:[]

COPYRIGHT 2018 The Fly
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Fly
Date:Mar 9, 2018
Previous Article:Fed funds futures are lower across the board after the strong jobs report.
Next Article:The Intersection: Crypto and Wall Street This Week.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters