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TechCrunch
TechCrunch
1M ago 30 views

How Phoebe Gates and Sophia Kianni used Gen Z methods to raise $8M for Phia

Phoebe Gates and Sophia Kianni's startup, Phia, raises $8M to enhance online fashion shopping through a mobile app that compares prices.
How Phoebe Gates and Sophia Kianni used Gen Z methods to raise $8M for Phia
A What happened
Phia, a new fashion startup founded by Phoebe Gates and Sophia Kianni, has successfully raised $8 million in seed funding to enhance the online shopping experience. The app, which launched in April, functions as a price comparison tool for fashion items, similar to 'Google flights for fashion.' With a user base of around 500,000, Phia aims to streamline e-commerce by allowing users to search across over 300 million fashion items. The funding round, led by Kleiner Perkins, attracted notable investors including Kris Jenner and Hailey Bieber. Gates and Kianni, who met at Stanford, pivoted from a desktop extension to a mobile app based on user feedback. Their marketing strategy leverages Gen Z methods, including social media engagement and a podcast, to attract interest and build a community around their brand. The new capital will primarily be used to expand their team and further develop the app's features.

Key insights

  • 1

    Innovative Fashion App

    Phia aims to revolutionize online shopping with a comprehensive price comparison tool.

  • 2

    Rapid User Growth

    The app gained 500,000 users shortly after its launch.

  • 3

    Prominent Investors

    The funding round included notable figures like Kris Jenner and Hailey Bieber.

  • 4

    Gen Z Marketing Strategy

    Phia utilizes social media and a podcast to engage with its audience.

Takeaways

Phia represents a significant step forward in the intersection of technology and fashion retail.