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Founding Story
- Stitch Fix, originally RackHabit, was founded in 2010 by Katrina Lake and Erin Morrison Flynn.
- The idea came about because Lake disliked shopping but wanted to look professional, while Flynn had experience as a buyer at J.Crew.
Target Demographic
- Stitch Fix targets customers who care about their appearance but dislike the process of shopping.
- This demographic proved larger than expected, spanning both men and women.
Funding Challenges and Success
- Despite early growth, Stitch Fix faced fundraising challenges, even nearing inability to make payroll in 2012.
- A bridge round from Baseline Ventures and subsequent Series A from Lightspeed Venture Partners secured their position.