Rent The Runway, the ‘Netflix for dresses,’ just raised another $60 million and claimed profitability for the first time
|12/28/2016||Posted by BusinessMediaguide.Com under General World News||
The “Netflix for dresses” startup, Rent The Runway, has proven it can make a profit — an achievement rewarded with a $60 million investment from Fidelity meant to accelerate its growth, the company told Recode’s Jason Del Rey.
According to Recode’s report, the company finally achieved profitability on an EBITDA basis on its $100 million revenue run rate this year. It’s in large part due to the success of its unlimited subscription service, a $139/month program that lets women rent three items at a time and exchange them as often as they’d like.
While Rent The Runway had <a target="_blank" read more >>>