Good Eggs Cuts Its Valuation 94% in Lifeline Financing as More Startups Get DesperateRead More

Photo: Wardrobe

A Startup for Wardrobe Rental Sales Nabs Funding; Twitch Hack Exposes Streamers Earning Millions

Photo: Photo: Wardrobe

It’s become popular practice for social media influencers to sell clothes they no longer want on second-hand marketplaces like Depop and Poshmark. Such items can sell out quickly as fans rush to buy something from their favorite online personality. 

Wardrobe, a three-year-old New York startup, takes that idea and pairs it with renting out items, popularized by Rent the Runway, which filed for an initial public offering this week. Wardrobe exclusively told The Information it has raised $4.1 million in seed funding led by Slow Ventures. Other investors include Foundation Capital and Casper co-founder Neil Parikh. [See disclosure below]

The 10-person company plans to use the funding to hire more engineers, a chief technology officer and head of talent, Wardrobe CEO Adarsh Alphons told me in an interview. 

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
Pro Weekly startups
Pro Weekly: Insights From The Information 50 Database
Pro Weekly: Insights From The Information 50 Database
Welcome back! The Information 50 is our guide to promising startups, which we’ve published each year since 2020. Now we’ve brought together the 150 startups we’ve identified over the past three years, with added information about how they’ve fared since. The Information 50 Startups Database, which we published Thursday, details each company’s total fundraising and most recent...
Latest Briefs
UK Says Microsoft’s Activision Bid Won’t Harm Console Market, Dealing Blow to Sony
Heated Reaction in China to TikTok CEO’s U.S. Testimony
Utah Passes Bills to Restrict Minors’ Social Media Use
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Sarah Nagy gives a demo of her startup,, at an AI event at the San Francisco Wine Society in January. Photography by Laura Morton
First Look startups ai
Boom Times in San Francisco’s AI Underground
Not even a banking crisis could chill the fever sweeping San Francisco. Last Wednesday, as the tech industry recoiled from the collapse of Silicon Valley Bank, a party was scheduled at the offices of Maverick Ventures in an old army hospital in the Presidio.
Cover art and portraits by Clark Miller
The Big Read
The Instant Oral History of the Silicon Valley Bank Collapse
On a cosmic level, the collapse of Silicon Valley Bank was a mere blip. The murmurs about trouble began last Wednesday, the panic spread via group texts and Twitter threads on Thursday, the bank went under on Friday, the government got its act together on Saturday, and on Sunday every current and former customer of SVB could breathe a cautious sigh of relief.
SpaceX CEO Elon Musk last August. Photo by Bloomberg
Exclusive startups electric vehicles
SpaceX Plans New Funding With Backing From Saudi, UAE Investors
A subsidiary of Saudi Arabia’s investment fund and an Abu Dhabi investment firm are planning to invest in a multibillion-dollar funding round for SpaceX, Elon Musk’s rocket company, according to people familiar with the investor discussions.
Clockwise from top left: Julie Bornstein, Esther Crawford, Mark Hammond, Max Cutler, Kağan Sümer. Photos via Julie Bernstein, Robert Cowherd, Microsoft, Wikimedia and Kağan Sümer.
Free Agents startups
On the Market: The Founders Who Joined Microsoft, Spotify, Coinbase and Twitter
Call them acqui-fires. Several founders who took positions at the bigger tech companies that bought their startups recently lost their jobs when layoffs rolled through Silicon Valley.
Art by Clark Miller.
Opinion startups economy
SVB Is Dead. Long Live SVB.
We all know how it began. It started on March 9, when the run on Silicon Valley Bank made the innovation economy totter and threatened a global financial crisis.
Tonal’s now-shuttered Palo Alto, Calif. retail store. Photo by Getty.
Exclusive startups
Tonal’s Valuation May Fall 90% in ‘Cram-Down’ Financing
Tonal, a fitness startup with a cadre of celebrity backers, is crunched for cash after failing to find a buyer.