Rent the Runway is mulling plans to go public via an IPO as early as this year, report says
Rent the Runwaycould go public via an IPOas early as this year, Bloomberg reported.
- The outlet cited sources that claimed the clothes-rental business was already interviewing banks.
- But they said that discussions were at an early stage and the company may decide against an IPO.
Rent the Runway, the designer clothes rental business, could go public via an initial public offering (IPO) as early as this year, Bloomberg reported Thursday.
People familiar with the matter told the publication that Rent the Runway was already interviewing banks in preparation for an IPO, though they noted that discussions were at an early stage and the company may still decide against an IPO.
The company declined Insider's request for comment.
Rent the Runway, which last month said it was adding actor and entrepreneur Gwyneth Paltrow to its board, started in 2009 as a way to rent one-off items for special events. It's grown into a platform for people to rent everyday clothes instead of buying new ones, and has added kids' clothing and homeware rentals.
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