Rent the Runway confidentially filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC), the online fashion rental retailer announced.
The company has not yet determined the amount and price of shares of Class A common stock to be offered.
Rent the Runway offers over “750 designer brands for rent and resale,” said the company. Founded in 2009, Rent the Runway was last valued at $1 billion after a 2019 funding round.
Through Rent the Runway, customers can subscribe, rent items a-la-carte and shop resale.
Photo courtesy Rent the Runway