Rent the Runway (RENT) Files For Up to $100M IPO

Rent the Runway (NASDAQ: RENT) files for up to $100,000,000 IPO.

The company describes itself as: "We built the world’s first and largest shared designer closet — what we call the Closet in the Cloud — with over 18,000 styles by over 750 designer brands that has transformed the way women get dressed by letting them wear whatever they want, without having to own it. We give customers ongoing access to our “Unlimited Closet” through our Subscription offerings or the ability to rent a-la-carte through our Reserve offering. We also give our subscribers and customers the ability to buy our products through our Resale offering. Our Closet in the Cloud offers a wide assortment of items for every occasion, from evening wear and accessories to ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, ski wear, home goods and kidswear. We have served over 2.5 million lifetime customers across all of our offerings and we had 126,841 ending total subscribers1 (active and paused) as of July 31, 2021. In the first six months of fiscal year 2021, 83% of our total revenue was generated by subscribers (including their Reserve and Resale revenue) while they were active or paused."

Goldman Sachs & Co. LLC and Morgan Stanley and Barclays will serve as lead underwriters.

You May Also Be Interested In

• Sinda Ltd. files for 17.75M share PO at $11.25-$13.25/sh
• Doncasters IPO sees demand for 30 times available shares
• HeartBeam shifts to licensing model, replaces CEO