Successful entrepreneur Doe Deere did not have a picture perfect childhood. Xenia Vorotova was born in Izhevsk, Russia. She dreamed of coming to America as a child, because it represented a place where anything was possible. She was simply obsessed with American culture and wanted to finally experience the amazing country she fantasized about. Her dream was about to come to at the tender age of 17.
Upon moving to the United States with her mother and sister, it would not be the ideal situation that Doe saw in magazine and on TV. The trio landed in New York City where opportunity awaited them. They quickly found out that it would be quite difficult to make it in the city. Deere’s mother worked as an accountant back in their home country. Unfortunately, her education did not translate over America in the way she wanted. She was forced to clean apartments instead. Doe even picked up some dog walking gigs to help pay the bills. It was very hard and they all felt defeated. The family could not pay the bills and were forced to live in a homeless shelter. For months, their situation was dire. They lived in one room together, did not have a kitchen, and would go to the local church for food on Thursdays.
Six months later, their social worker introduced them to Sanctuary for Families. This non-profit organization is dedicated to helping immigrant women who are struggling. The family would get a second chance to start again. It would not be easy though. They were transferred into an apartment in the projects, which is gang territory. Although it was not perfect, it gave Doe’s family a chance to get their life together. With the help of Sanctuary for Families, Doe was able to get into the Fashion Institute of Technology in New York City. Her mother would get work as an accountant, and her sister would get into Columbia University. Many years later, Doe Deere founded Lime Crime in 2008. It would become a huge company that celebrated people’s individuality with vibrant colors and unique makeup.
Whitney Wolfe is one of the top women leading the dating app industry. She grew up in Utah, and soon went on to work for Tinder. Shortly after, see had a falling out with others and filed a lawsuit. She later won the lawsuit, and has since created her own dating app named Bumble. Bumble took off and has continued to add new features since launch. The website Tech Crunch recently published a story about Whitney Wolfe and her unorthodox attitude in the industry.
Her venture with Bumble began immediately after leaving Tinder. Using her connections and knowledge, she conceptualized a female based dating service named Merci. At the same time, Andrey Andreev, from another successful service contacted her. She soon seized the opportunity and they soon began collaborating together. This was the formation of the female driven dating service Bumble.
It’s been 4 years since then, and everything is going great for Bumble. The writer describes the unusual office space. The building was composed of more living space than office materials. Whitney Wolfe prefers to have an environment where everyone can easily see and talk to each other. This idea came to the forefront when Bumble became the first social network to open a physical space in New York for people to meet. The community involvement continued in the wake of the Stoneman Douglas shooting, when they banned all pictures of guns on the app. They have also added Bumble BFF Bumble Bizz to help connect users on a personal and business level.
There are few business women who are as proactive as Whitney Wolfe. As someone who has been in the dating app industry for years, her experience has only allowed to progress forward. Bumble is establishing an online platform where anyone of any background can gather can feel comfortable. The industry is always changing, but Whitney Wolfe sees a continued bright future ahead for Bumble.
Learn More: schedule.sxsw.com/2018/events/PP99060
Since several years ago, Julie Wrainwright, CEO of The RealReal, has been saying that the latest private funding round for her company will be the last, only to secure more private funding. Several sources have said that Wrainwright’s current goal is to raise $100 million more in funding. Since its launch in 2011, The RealReal, a secondhand luxury clothing and accessories company, has already earned $170 in private funding.
The eventual IPO round for The RealReal will involve opening up the doors for public investors and acquirers to buy stock in the company, and there are many reasons that The RealReal may be remaining private at this time. One such possibility is that they do not believe their company is appealing enough as it is to acquire private investors, and that it needs more time to prove that it can be a valuable long-term business. Another possibility is that they have realized just how big the market for secondhand luxury goods is, and they believe that if their company invests more in growth, that will result in them eventually having a bigger market share.
The RealReal started up as merely a women’s luxury clothing company, but since its inception in 2011, it has branched out, including menswear, art, and home decor in its stock, along with of course women’s’ accessories. It also has moved from being exclusively an online company to having a physical location in New York City, and hoping to have more physical locations in the future. And while some may worry that luxury consignment stores reduce the sales of designer brands, this is not true at all. In fact, The RealReal has actually been driving sales of designer brands, both because someone will buy something first-hand from a brand they already loved a secondhand clothing item from, and because knowing that a clothing item has resale value can encourage investing significant money on it. The company also has a strict policy for detecting fake items, and holds themselves accountable – they once returned a $100,000 pair of diamond earrings that had accidentally been left in the store.