Alibaba Founders Take $20 Million Stake In Rent The Runway

Rent the Runway has received a $20 million investment from Blue Pool Capital, a fund that invests the wealth of Alibaba founders Jack Ma and Joe Tsai, according to a report in Recode. This financing round values Rent the Runway at slightly under $800 million, according to research firm Lagniappe Labs.

Rent the Runway was already profitable on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis, and Co-Founder/CEO Jennifer Hyman wasn’t planning on looking for new capital. The company’s last…