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Rent the Runway hits a $1 billion valuation
2019-03-21T17:37:14Z - Megan Rose Dickey / TechCrunch
Rent the Runway just closed a $125 million led by Franklin Templeton Investments and Bain Capital Ventures. In total, Rent the Runway has raised $337 million in venture funding. Late last year, Rent the Runway opened a physical location in San Francisco, marking the company’s fifth standalone brick and mortar space. Rent the Runway, which launched about ten years ago, has expanded from the sole offering of one-time rentals to now three offerings, including two subscription offerings. But what differentiates Rent the Runway from the likes of Stitch Fix is that, “they’re trying to get you to buy stuff,” Rent the Runway COO Maureen Sullivan told me back in September.

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