Clothing-rental business Rent the Runway is seeking a valuation of as much as $1.5 billion in its initial public offering next week
Rent the Runway Inc. is seeking a valuation of as much as $1.5 billion in its initial public offering next week, in what would cap a comeback for the clothing-rental business.
The New York company is aiming to sell shares at a valuation of roughly $1.3 billion to $1.5 billion, it plans to disclose in an updated IPO filing later Monday, according to people familiar with the matter. The roadshow for company management and their underwriters to pitch the shares to potential investors begins Tuesday and the shares are to start trading on the Nasdaq Stock Market next Wednesday.
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