Nuuly > Rent the Runway, Arm's Market Share, and Messi Joins Club Apple

Rent the Runway is an online platform that allows users to rent, subscribe, or buy designer apparel and accessories. It was founded in 2009 and went public in 2021, valuing the company at about $1.5 billion. Rent the Runway offers various plans for customers, such as one-time rentals, monthly subscriptions, or pre-loved items to keep. Rent the Runway also operates brick-and-mortar stores in some cities, where customers can try on and rent dresses on the spot. Some of its main competitors include Le Tote, Armoire, Nuuly, Stitch Fix, Gwynnie Bee, and Vince Unfold. These are similar services that offer rental or subscription options for fashion items with different price points, brands, and styles.

Arm is a company that develops and licenses RISC instruction set architectures (ISAs) for computer processors. Arm also designs and licenses cores that implement these ISAs and system architectures, development tools, software, and security technologies. Arm’s technology is widely used in various markets, such as automotive, computing, infrastructure, consumer, and Internet of Things (IoT). Arm’s technology enables artificial intelligence, security, 5G, cloud computing, edge computing, high-performance computing, and more. Arm went public on September 14, 2023, at an initial public offering price of $21 per share, valuing the company at about $60 billion. The company sold about 95.5 million shares and raised almost $2 billion from the offering. The stock jumped nearly 25% during its first trading day, closing at $63.59 per share. Arm’s IPO was the largest in 2023 and the biggest since Rivian’s in 2021. Arm’s growth potential is high as it expects the total market for its chip designs to be worth about $250 billion by 20253. Arm also faces competition from other chip companies such as Intel, AMD, Nvidia, and Qualcomm.

Lionel Messi is a soccer superstar who confirmed that he would sign for Inter Miami in MLS. The deal is incomplete, but The Athletic reports he could get a share of Apple TV+ revenue. Apple and MLS signed a 10-year, $2.5 billion deal based on a new soccer streaming package called MLS Season Pass. Messi’s signing could boost the popularity and profitability of MLS and Apple TV+ and attract more fans and subscribers to the service. Messi’s new deal with Apple is part of a larger trend of big tech companies buying sporting rights to stream live events on their platforms. Amazon, Facebook, Google, and perhaps Apple could be in the mix for bidding for more major sporting events, such as the NFL’s Monday Night Football and Major League Baseball games, when they go up for renewal in 2021-22. Big tech companies have also increased spending for sports streaming rights for tennis, soccer, baseball, and fringe events like surfing. Big tech companies see sports streaming as a way to attract more users, generate more revenue, and compete with other entertainment platforms. However, big tech companies may not gain exclusive rights to major sports contracts or championship events and push over-the-air broadcasters aside. Broadcasters offer national reach, something streaming services can’t match.

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