The Stitchfix IPO is a huge milestone for women in tech

The personalized shopping subscription service hit the NASDAQ on Friday after raising $120m in its IPO, becoming the first female-founded internet company to go public this year. In fact, this IPO marks the first time a female founder-CEO has taken a consumer internet company public since Care.com went on the market almost 4 years ago. […]


November 20, 2017

The personalized shopping subscription service hit the NASDAQ on Friday after raising $120m in its IPO, becoming the first female-founded internet company to go public this year.

In fact, this IPO marks the first time a female founder-CEO has taken a consumer internet company public since Care.com went on the market almost 4 years ago.

Let’s meet the founder-CEO

With Stitchfix, Katrina Lake has built a profitable, $1B business in less than 6 years.

The company — a personal styling service that picks out clothes for users after a one-time styling consultation — is challenging the notion that the market for selling clothes online is too full (or already claimed by Amazon). And the company’s 2m active customers agree.

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There of course, are some h8ters

While Stitchfix’s IPO was considered by some to be a disappointment (shares sold at $15 — far shy of the $18-20 target), Lake doesn’t agree.

From the get-go, Stitchfix has focused on profitability as opposed to achieving a gold-standard valuation. Their own valuation was relatively low at $300m pre-IPO — but during that time, they only raised $44m in VC funds.

In other words, that post-IPO $1.5B is serving not only Stitchfix’s investors but Lake and her employees very well.

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Psst

How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

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