How Stitch Fix Navigated a Male-Dominated VC Landscape
Stitch Fix CEO Katrina Lake set a couple records last year: she was the only woman to take a tech company public in 2017, and she was the youngest female *ever* to lead an IPO.
Those milestones encapsulate Silicon Valley’s male-dominated landscape.
It was something that became clear to Lake when she was first trying to raise money, as she found herself selling a product that was, at the time, geared towards women to a room full of men.
“It was just challenging to get people super passionate about the business,” she told Cheddar in an interview Thursday. “There’s natural biases when you’re looking at such a homogenous group.
“It was probably a little bit more of an uphill journey than if I had a more male service.”
The online styling subscription service raised $120 million in its November IPO. While the company missed profit estimates for its most recent quarter, revenues rose more than 24 percent to $296 million. It forecast sales of $1.2 billion for its full fiscal year.
Stitch Fix’s ability to stay profitable, even before going public, put it in a rare category of tech start-ups. It’s even more rare to find a subscription-model business do well at a time when companies like Blue Apron are bleeding capital.
Lake attributed that success to market demand.
“It’s ultimately the product-market fit,” she said. “The proposition of being able to share a little about yourself, have a ‘Fix’ delivered to you so that you can try clothes on at home, in a way that’s convenient and fun, is something that helps us to continue to perpetuate this consistent growth.”
For the full interview, [click here](https://cheddar.com/videos/being-the-youngest-female-founder-to-take-a-company-public).
Stephen Kates, Financial Analyst at Bankrate, joins to discuss the Fed’s 25-basis-point rate cut, inflation risks, and what it all means for consumers and marke
Big tech earnings take center stage as investors digest results from Alphabet, Meta, Microsoft, Amazon, and Apple, with insights from Gil Luria of D.A. Davidson
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.