The Buzz on Whitney Wolfe

Born in Salt Lake City, Utah, Whitney Wolfe was the daughter of a housewife and her father was a well-known property developer. She attended Southern Methodist Universtiy and majored in International Studies. By the age of 19, she became an entrepreneur and began selling bamboo bags to benefit the victims of the BP oil spill in the Gulf of Mexico.

At age 22, Whitney Wolfe began working at a tech company, now known as “Tinder” She’s believed to have named the app because of the tinder used in the fireplace at her father’s cabin. She later became Vice President of Tinder and then left in 2014. She then started her own dating app called Bumble. It’s a more efficient way for women to connect in the dating world with them being in control. In 2016, she introduced Bumble BFF, a form of Bumble that engages people to find and meet new friends or potential dating endeavors. Bumble Bizz launched in 2017 to give people genuine professional leads on a new job or business opportunity.

Also in 2017, Whitney Wolfe married her husband, Michael Herd, in Positano, Italy. They met while on a ski vacation for Christmas in Aspen. Mutual friends introduced them and they seemed to click. Michael didn’t know much about skiing and Whitney Wolfe was happy to educate him. Michael is in the oil-gas business in Texas and in 2015, they went to his ranch and he proposed during a sunset after horseback riding. They were so excited that they when on a vacation to Italy and that was where they decided to get married. A beautiful ceremony and lovely couple.

Whitney Wolfe has had a great deal of success. She was named the in the “Business Insiders” 30 Most Important Women under 30. She was also recognized as the Woman in Tech in Elle’s Magazine. She’s featured in Forbes 30 under 30 in 2017 and 2018. She’s known as the most prominent woman in the Tech industry.

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The RealReal’s Very Real Success Through its Popups

The RealReal’s director of marketing Allison Sommer recognized the fact within her luxury consignment industry that ambiance created through the retail outlet experience enhances their customers’ purchasing experience and increases the dollar size of those purchases.

With their November, 2016 popup in New York City, the firm saw purchases grow to 6 times the value of those made through its online outlet. The company earned $2 million in gross merchandise sales, as well.

Management is building upon this success through their announcement that 2018 will be the year that The RealReal increases its expansion of its popup outlets throughout the U.S.

Noting the importance of the outlet experience to their buyers, and their bottom line, Sommer points to the 5 fold increase in business from San Francisco area customers online purchases, following their popup in the city during the 4th quarter of 2017.

Maintaining a presence at the street level affirms the company’s position among other luxury outlets notes Sommer.

The RealReal is eying Las Vegas as the next popup location, with the idea of introducing their successful model in areas that are unaffected by the cosmopolitan “popup frenzy” in the larger markets of New York and Los Angeles.

With a global membership count upwards of 7 million, the company knows the right mix of pampering and experience that is required to build a successful, high-end consignment business.

They build upon this through the premium their organization places on its customers. Affirmed in acquiring staff experience with backgrounds as diverse as Sotheby’s and Gucci, The RealReal honors its commitment of being customer driven as opposed to having a sales team that is primarily commission minded.

Originally focusing on apparel sales, the company branched into watches and designer jewelry following the requests of their consignors and customers. Acting on those leads, the highly successful product line expansion brought in $100 million in sales in 2016.

Among the talent responsible for the firm’s success, CEO Julie Wainwright, having built a strong reputation in startups beginning with the dot com era has seen the firm’s sales grow to $500 million in the 6 years since its founding. The RealReal is widely recognized as a leader within the luxury consignment marketplace.