A business often starts with a relatively modest desire to solve one problem for a specific group of people. Somewhere along the way, it becomes tempting to try to be everything to everyone—especially once it has achieved a supersize tech valuation. Peloton was exhibit A, falling from grace after it tried to grow from what was a solid niche in selling expensive stationary bikes to virtual exercise to anyone with internet access.
just over five years ago led by founder Katrina Lake at a valuation of around $1.4 billion. Back then it was a company mixing some data and human judgment to curate personalized boxes of new clothing for customers. That combination earned it a somewhat rich tech-like multiple, even though more than 80% of its employees as of its public offering filing were either human stylists or fulfillment workers.
DoubleLJSquared Wau
DoubleLJSquared Well their customer service was terrible!
DoubleLJSquared WSJ needs to learn the difference between technical and clothing companies that happen to use the Internet
DoubleLJSquared This was not a once perfectly good ship. You admitted as much when you said that their biggest initiative came not from...but pandemic related closures. As a sub, I expect better analysis.
DoubleLJSquared Can we move beyond the idea that because you sell stuff on the internet that you are tech company? StitchFix is a retail company and that is how investors view it.
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