- Rent the Runway, a fashion company that allows customers to rent and return designer clothing, recently received a $20 million investment from Blue Pool Capital, an investment firm created by Alibaba founders Jack Ma and Joe Tsai.
- Rent the Runway is reported to be valued now at around $800 million.
- Last year, Rent the Runway renovated its New York City headquarters, and Business Insider got a look inside.
Rent the Runway has been working to democratize fashion since 2009. The startup allows customers to rent articles of clothing from more than 450 designers, with tiered monthly subscription services and items that start at $30 for a four-day rental.
Last week, it was reported that Jack Ma and Joe Tsai of Alibaba invested $20 million in Rent the Runway through their asset management firm, Blue Pool Capital. With that investment the company is now reportedly valued at a little less $800 million.
Late last year, Rent the Runway celebrated its eighth anniversary with the opening of a freshly renovated Manhattan headquarters.
The nearly 40,000-square-foot space, which was designed by Hyphen, is adorned in pink wallpaper, and its perks include a meditation room, photo studio, and fitting room for employees to change into their own rentals.
"Even though we're 1,200 people it still feels like it did in the early days when we first founded the company," co-founder and CEO Jenn Hyman told Business Insider.
She added: "That entrepreneurial spirit, the warmth, the friendships, are all there. We wanted the office to reflect that energetic entrepreneurial spirit."
Ahead, get a look around the office and Hyman's favorite spaces.
The offices house around 250 employees, though Rent the Runway employs about 1,200 people in total, including in their stores and warehouses.
In the front lobby are two large closets that have rotating wardrobes hanging inside them. "These closets are in the shape of our logo," Hyman said. "We continuously rotate to feature things that are new. New brands, new arrivals — they're continuously changing to evidence this statement: 'I have everything to wear.'"
On the left wall is what Hyman calls her favorite thing in the office: photos of customers, employees both past and present, and other female entrepreneurs that have used Rent the Runway's services.
See the rest of the story at Business Insider