BRENDAN MCDERMID/ Reuters
- Plenty of successful companies have been founded by women, but only a select few have become billion-dollar businesses.
- Tech companies like Bumble, Eventbrite, and Cisco are all women-led, billion-dollar businesses.
- Fashion and beauty companies like Glossier, Rent the Runway, and Spanx are also great examples.
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In recent years, we’ve seen an increase in women-owned businesses in the US.
In fact, there are more than 11.6 million American companies owned by women that create $1.7 trillion in sales. But only a fraction of these businesses has gone on to become billion-dollar companies.
From a dating app to a genetic testing kit, these are the women-owned businesses that skyrocketed straight to the top of their fields, organized by valuation.
Jennifer Hyman and Jennifer Fleiss launched Rent the Runway in 2009. Today, the fashion business is valued at $1 billion.
Shannon Stapleton/ Getty
In 2008, Jennifer Hyman got the idea to start a business where women could rent designer clothing after her sister had to buy a $2,000 dress for a wedding. Hyman teamed up with Jennifer Fleiss to start the business, which started modestly on the Harvard campus. In 2009, Rent the Runway was officially launched, allowing women to access designer clothing for less money.
Ten years later, Rent the Runway is valued at $1 billion and continues to threaten traditional retail stores.
Dr. Kathy Fields and Dr. Katie Rodan created Proactiv in 1995. Today, the skin treatment company is worth $1 billion.
Rodan + Fields/ YouTube
In 1989, Dr. Katie Rodan was frustrated that she couldn’t prescribe an acne treatment to her patients that would treat their whole face — not just the problem area. The following year, she and her friend Dr. Kathy Fields decided to find and sell an over-the-counter acne treatment. In 1995, Proactiv was launched and revolutionized the skincare industry.
Today, the company has 20 million customers, and Proactiv is valued at $1 billion, according to Forbes.
Whitney Wolfe Herd launched Bumble in 2014, and now the dating app company is worth $1 billion.
CAITLIN OCHS/ Reuters
Whitney Wolfe Herd started her successful career in dating apps when she was a co-founder and vice president of marketing at Tinder. When she filed a lawsuit against her boss for sexual harassment, she was forced to leave the company. After Tinder, Herd decided to compete against her former employer and create a new dating app. With financial help from Badoo founder Andrey Andreev, Herd created Bumble, which allows women to make the first move after matching.
Today, Herd continues to be the CEO of Bumble, which is valued at $1 billion and has 35 million users.
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