Rent the Runway CEO and co-founder Jennifer Hyman and Greylock general partner Reid Hoffman discuss the strategy behind the company's data-driven, online marketplace where people can rent or buy clothing. Rent the Runway launched in 2009 with the mission to democratize fashion. Over the years, the company has evolved significantly, keeping up with the many major shifts to the retail and e-commerce industries overall. From the rise of mobile and the increasingly outside influence of social media on shopping, to changes in consumer preferences from subscription models or in-person experiences, and, of course the multifaceted impact of the pandemic on shopping, Rent the Runway has continuously adapted. Rent the Runway went public in 2021 and today works with hundreds of designers.
You can watch the video of this interview here: https://youtu.be/T06qHdl1sI0
You can read the transcript here: https://greylock.com/greymatter/designed-by-data/