As once-thriving retailers like Gap, Victoria's Secret and JCPenney announce almost 5,000 store closings in just 2019, three retail startups have hit valuations of $1 billion or more — and entered the exclusive "unicorn" club.
Driving the news: In the past 10 days, Rent the Runway, Glossier and Casper have all topped $1 billion valuations. The success of the three charts the future of retail — a landscape peppered with tech-infused startups that begin online then go to Main Street.
CB Insights analyzed deals from 2010 through last month (weighted toward recent performance) and found these venture-capital winners, per the New York Times.
What to watch: A swarm of technology IPOs expected this year and next year are slated to have big returns for venture capitalists involved.
Lyft raised $2.34 billion on Thursday in an IPO that was 20 times oversubscribed. In other words, the underwriters received about $47 billion of orders for Lyft shares — more than double the market capitalization of the entire company.
The Levi Strauss IPO, last week, was 10 times oversubscribed. A raft of other IPOs could raise as much as $100 billion on U.S. markets alone this year. Uzbekistan's recent global bond offering was more than 5 times oversubscribed, and came on the heels of a similar bond from Tajikistan, which was 8 times oversubscribed.
President Trump's lawyer Rudy Giuliani hailed Fox News' "Justice with Judge Jeanine" host Jeanine Pirro as a "crusader for justice" as she returned to her show Saturday.
Why it matters: She's been off the air for 2 weeks after the network condemnedcomments she made on her program suggesting Rep. Ilhan Omar's wearing of a hijab meant she followed Sharia law. Pirro was to appear on "The Sean Hannity Show" Friday night. He said she canceled because of a "serious family emergency."
