One of the greatest marks of a successful company is — access to funding. Funding enables a company to streamline its operations and more importantly reach new markets. Two years ago, The RealReal received one of their biggest funding in recent times — of more than $50 million. The funding from Great Hill Partners made this company one of the few companies in the e-commerce space to reach over one billion in valuation. Although the ultimate goal is to sell the company’s shares in the stock market, the current financial status is ideal for the entity. Julie Wainwright — who is the executive officer of this company — believes that in the next 12 months, the company will be ready for the next phase.
The current financial situation at this company has enabled the entity to accomplish the following. The RealReal is home to unmatched customer services. Prior to the above funding, the department was not as vibrant as it is today. Julie Wainwright believes that the advancement in this important department continues to make the entity — home to customer services. Second, the funding has also given the company the ability to reach new markets. Although the luxury market is still a small and selective market, it is still a rewarding market. The new funding has given the company enough resources to reach more potential clients. Finally, the funding gave this company a chance to hire some of the best professionals in the e-commerce and more specifically — talented fashion experts.
In addition to better customer services (and the right approach to luxury market), the company is home to professionalism. The RealReal is keen on making sure that every contact between a customer and the company is beyond reproach. In less than ten years, the company has adopted some of the most innovative policies — that aims at ensuring the client’s expectation is realized. In the recent past, the entity has gained a huge following all the major social media platforms. Julie Wainwright points out that embracing social media is not only important for the company’s growth but also a chance to expand interactions platforms with clients. The RealReal is arguably one of the most followed company on Instagram and Twitter.
End Of Article