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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]:[https://www.recode.net/2018/3/9/17099908/rent-the-runway-alibaba-jack-ma-joe-tsai-blue-pool-capital-invest-valuation-women-clothing-apparel]

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Publication:The Fly
Date:Mar 9, 2018
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