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Perhaps you have heard that The RealReal, an online luxury consignment store, has made an initial public offering under the symbol "REAL". Ok, okay, so far, so what? The founder and CEO of the company is Julie Wainwright.
For those of you who did not immediately emit an ultrasonic shout, Wainwright was the CEO of Pets.com, which went bankrupt less than a year after its IPO in 2000. L & rsquo; Pets.com's infamous failure is still used as a synecdoche for the collapse of the '90s bubble in Silicon Valley. "It failed and I became a kind of outcast," said Wainwright, according to a CNBC report in 2017. "I was the most stupid person in the valley. It was a little hard.
Wainwright insists that Pets.com is a good idea ahead of her time and that she may be right. After all, Petsmart bought Chewy.com in 2017 for $ 3.35 billion.
Anyway, here is the agreement with The RealReal: it's a scaled delivery, with products sold in a few physical stores and online. If you own, say, a Chanel handbag and you have decided not to wear it anymore, you can deposit it in a RealReal store or send it to the company. He will then authenticate the bag and resell it.
RealReal's revenues increased 55% in 2018 to $ 207.4 million from the previous year. But RealReal overall lost $ 75.8 million in 2018, which is also an increase from the loss of $ 52.3 million recorded in 2017.
Here are my questions:
- How long will RealReal last?
- Is his IPO a bad omen?
- Is it a redemption bow for Julie Wainwright?
- What does it mean for eBay, if any?
- How much do you think the original Pets.com socks puppet mascot would sell well on The RealReal?
- How many other unprofitable companies will the IPO market take in Silicon Valley?
- Brick and mortar? In this economy?
- Will someone buy me the sock puppet if it goes on sale?
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