Tag Archive | "Dollar"

What Is A Many-To-Many Business And How Can This Model Produce Billion Dollar Outcomes

During the dot-com boom around the year 2000, and the years that followed (before I started this blog in 2005), I was a guy in his early twenties looking for a business idea to make my riches. At that stage, I had built a handful of websites. They were hobby…

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Alibaba CEO Jack Ma Makes Multi-Million Dollar Investment in ‘Rent the Runway’ Fashion Business

It seems that Chinese billionaire investor Jack Ma is planning to expand his business interests to include women’s fashion. Mr. Ma and his Alibaba co-founder Joseph Tsai, are now eyeing a stake in Rent the Runway, a New York-based designer clothing rental for women.

Jack Ma and Joe Tsai, through Blue Pool Capital, will inject $ 20 million in fresh capital into Rent the Runway based on details on a filing uncovered by research firm Lagniappe Labs. Blue Pool Capital is a multi-billion dollar fund tasked with investing the wealth of Ma, Tsai and other Alibaba executives.

With the additional capital, Rent the Runway is now valued at a little under $ 800 million. During the company’s previous fundraising activity, it was valued at $ 750 million after it was able to secure $ 60 million in Series E investment led by Fidelity back in 2016. The latest deal with Blue Pool will carry the same terms as the Series E deal.

Rent the Runway was established in 2019 by Harvard Business School students Jennifer Fleiss and Jennifer Hyman. It was previously a purely online-based service business that allowed women to rent designer dresses for special occasions rather than spending a substantial amount to buy them.

The business idea became a hit and, veering from its pure eCommerce model, Rent the Runway soon opened up retail locations in major US cities like Chicago, Los Angeles, New York City, San Francisco and Washington DC. Now, the company rents other high-end accessories such as handbags and jewelry.

Aside from rental earnings and such, Rent the Runway’s revenue is now boosted by sales in lingerie, cosmetics, shapewear, and tights. In addition, the company introduced a subscription model where clients can rent a rotating closet assuring a wider variety of clothing options even for everyday wear.

It is still unclear if Ma and Tsai plan to eventually acquire Rent the Runway. According to Jennifer Hyman, Rent the Runway co-founder and CEO, the deal is “good for us whether we IPO, or we sell the business, or we stay private.”

[Featured image via YouTube]

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What Is A Many-To-Many Business And How Can This Model Produce Billion Dollar Outcomes

During the dot-com boom around the year 2000, and the years that followed (before I started this blog in 2005), I was a guy in his early twenties looking for a business idea to make my riches. At that stage, I had built a handful of websites. They were hobby…

The post What Is A Many-To-Many Business And How Can This Model Produce Billion Dollar Outcomes appeared first on Entrepreneurs-Journey.com.

Entrepreneurs-Journey.com by Yaro Starak

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Sol Orwell: Examine.com Founder Reveals How He Taps Into Content Marketing And Partnerships To Create Multi-Million Dollar Businesses

[ Download MP3 | Transcript | iTunes | Soundcloud | Raw RSS ] Financially retired by 23 years old, Sol Orwell certainly had a rapid rise to success at a very young age. In this podcast interview, you’re going to hear about Sol’s early days running a multi-million dollar video…

The post Sol Orwell: Examine.com Founder Reveals How He Taps Into Content Marketing And Partnerships To Create Multi-Million Dollar Businesses appeared first on Entrepreneurs-Journey.com.

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Amy Morin: How Publishing One Incredibly Popular Article Led To A Million Dollar Writing And Speaking Business

[ Download MP3 | Transcript Coming Soon | iTunes | Soundcloud | Raw RSS ] Amy Morin is famous for writing an article – 13 Things Mentally Strong People Don’t Do – which then turned into a seven-figure business. On the surface that just sounds too good to be true,…

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Gideon Shalwick: Founder Of Splasheo And Veeroll Explains How To Grow Million Dollar Businesses Selling Services Online

[ Download MP3 | Transcript | iTunes | Soundcloud | Raw RSS ] Gideon Shalwick is my long-time friend and one-time business partner. More recently, Gideon founded two companies: Splasheo – A video intro production service that Gideon has turned into a passive income stream Veeroll – A video advertising…

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How Chris Peters Kickstarted A Beer Bottle Opening iPhone Case (With Ashton Kutcher & Jamie Oliver As Backers) Into A Million Dollar Company

My newsletter subscribers will be well aware that I recently moved to Melbourne. To meet new people I have been hitting local entrepreneur meetup events pretty hard. [ Download MP3 | Transcript | iTunes | Soundcloud | Raw RSS ] I quickly met Rob Ward and Chris Peters, two local guys who used Kickstarter campaigns to start off…

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Dollar Shave Club Sells For $1 Billion, What a “F***ing” Remarkable Story

Dollar Shave Club (DSC), founded just 5 years ago, has been acquired for a reported $ 1 billion in cash by U.K. based Unilever. DSC was launched in March 2012 by Mark Levine and Michael Dubin and is based in Venice, California which is next to Santa Monica outside of Los Angeles. Michael Dubin will continue to serve as CEO of DSC. Unilver approached Dollar Shave Club about the acquisition, according to Dan Primack of Fortune.

Dollar Shave Club had a simple concept that resonated with men, “Shave Time, Shave Money”, and launched with a YouTube video that immediately became a viral hit. As of today, it has been viewed nearly 23 million times.

If the price is accurate, it will be one of the largest in e-commerce history, with the most expensive acquisition being Zulily in 2015, purchased by Liberty, owner of QVC, for $ 2.4 billion. DSC had 15% of the men’s razor cartridge market share in the U.S. last year, according to investor David Pakman who is a Partner at Venrock, which was the original investor in Dollar Shave Club. DSC received $ 163.5 million in 5 Rounds from 21 investors prior to the acquisition.

Michael Dubin, founder and CEO of Dollar Shave Club, added: “DSC couldn’t be happier to have the world’s most innovative and progressive consumer-product company in our corner. We have long admired Unilever’s purpose-driven business leadership and its category expertise is unmatched. We are excited to be part of the family.”

The company in less than 5 years has not only transformed the shaving category but has singlehandedly supercharged the consumer products subscription category. DSC has over 3.2 million members with revenue of $ 152 million in 2015 and on track to exceed $ 200 million in 2016. The Dollar Shave Club brand has also transformed from a single razor to a multi-products lifestyle brand that includes other branded products such as Wanderer, Big Cloud, Boogies and One Wipe Charlies.

“Dollar Shave Club is an innovative and disruptive male grooming brand with incredibly deep connections to its diverse and highly engaged consumers,” said Kees Kruythoff, President of Unilever North America. “In addition to its unique consumer and data insights, Dollar Shave Club is the category leader in its direct-to-consumer space. We plan to leverage the global strength of Unilever to support Dollar Shave Club in achieving its full potential in terms of offering and reach.”

Using Digital Disruption to Establish a Direct Customer Relationship

David Pakman posted this slide from the original Series A Dollar Shave Club Pitch Deck saying “His plan was grand, but his formula was simple…”

Screen Shot 2016-07-20 at 2.50.20 PM

“I’ve been telling the Dollar Shave story lately as a way to describe the disruption possible when a company uses digital technology to establish a direct relationship with a customer,” said Ted Schadler in his blog. Ted is Vice President & Principal Analyst at Forrester Research. “Dollar Shave Club is in its customers’ daily shower and conscientiousness. It’s a digital disruptor, not because it has a revolutionary product, t’s because it has a revolutionary relationship.” He adds that digital disruption starts with a direct customer relationship.

“In the age of social media, brands must become direct-to-consumer in order to know their own customers,” said Pakman in a blog post giving his insider take on the business. “Success has many fathers, but in this case, there is only one.”

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Joel Brown: Founder Of Addicted2Success.com Explains Why He Said No To A Million Dollar Buy-Out

Joel Brown from Perth, Western Australia, started a blog Addicted2Success.com to share quotes and articles about his interest in personal development and success. [ Download MP3 | Transcript | iTunes | Soundcloud | Raw RSS ] Joel worked hard, starting primarily with Twitter as a marketing tool, then branching into…

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How Dane Maxwell Created A Multimillion Dollar Passive Income Software Business By Age 32

Dane Maxwell is one of those entrepreneurs with boundless enthusiasm for life, but particularly for his entrepreneurial activities. He has built a multi-million dollar software company and never has to work a day again in his life, but is fueled by a blazing passion to help others do what he has…

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