– grow up. Natalie Gordon founded Babylist in 2011 to serve clients like her. Former software engineer Amazonshe is about to have her first child and start building a registry that meets her needs. This helped Babylist to use itself as a destination for new parents in the early 2010s, where any registry is pale blue and pale pink that they don’t want to send to friends and family. “I’m a core user of ours,” she recalls. “I’m writing every line of code. It’s easy to know what to build because I’m building it for myself.”
Fourteen years later, Gordon is no longer a core customer of the platform. Now, it’s a registry, an e-commerce destination for new parents, and a member sales powerhouse, a profitable person that brings over $500 million in annual revenue, wealth It is the first report. Gordon told the new staff of Babylist, who has no children, that they are closer to her core users than her.
Provided by Babylist
The growth of Babylist’s $500 million business depends on reaching the broader parent market. Traditionally, the platform is where people register and buy everything, from a baby bottle for $29 to a gliding nursery chair for $1,399. Two years ago, the company obtained a license to operate a health vertical where parents can order insurance-covered breast pumps, including Medicaid. The vertical is already a $50 million business. 40% of babies in the United States are born under Medicaid, while Babil is aiming to serve 80% of the population by 2027. “There are a lot of parts of babies that are really common,” Gordon said, to get to know Medicaid clients. “We did a great job of serving both audiences.”
For Gordon, that growth also ranges from her disgust to the traditional part of running a startup: fundraising. “I was actually really horrible when it comes to fundraising,” she recalls. She has raised less than $50 million in the past 14 years. “That felt like a curse, and now it’s a blessing,” Gordon said. “We always see it as a business, not a startup.”
Emma Hinchliffe
emma.hinchliffe@fortune.com
– Call the action. Changing the world is wealth’S’s annual list, which includes well-doing companies. These companies are using creative business tools to help the planet and address unmet needs of society, and they are making profits while doing so. Additionally, the list is often for companies that create economic opportunities for women in humans or underrepresented industries or countries. You can see the winners from last year here. This year’s application deadline is Tuesday, July 29;The list will be released in late September and will appear in the October/November issue wealth Magazine.
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Also in the headlines
– postal. Three years ago today, the Supreme Court overturned roe v. Wade And ended the constitutional right to abortion. Senate Democrats are hosting a forum to share how decisions affect their stories and keep abortion visits conversations. Washington Post
– A lot of seeds. Former Openai CTO Mira Murati’s startup machine lab raised one of the largest seed rounds ever in Silicon Valley, raising $2 billion at a $10 billion valuation. The AI company has not shared details about what it is developing. Financial Times
– Until July. this Fed Vice Chairman Michelle Bowman is now the second federal official to cut tax rates immediately in July, opposing Fed Chairman Jerome Powell. “If inflationary pressures are still included,” Bowman said. New York Times
– Let the game start. Kirsty Coventry officially became chairman of the International Olympic Committee yesterday, starting an eight-year term focusing on the upcoming 2028 Los Angeles Games. Coventry is a former Olympic swimmer and the first woman to take on the role. Reuters
Moving and vibrator
Sierra Quirty She is the CEO of kitchen merchandise company Great Jones, and she co-founded it. Big Jones was acquired by Meyer two years ago.
Children’s entertainment company Spin Master, named Christina Miller CEO. She has served on the company’s board since 2020, and has previously served as president of the Children, Young and Classics division of Warnermedia.
Any real estate appointed Barri Rafferty As Chief Communications Officer and Head of Public Affairs. She is recently Sodali & Co. Americas CEO.
On my radar
When the trade war collapses New York Times
Lawyer Market Big #MeToo Verdicts, But Their Clients Work to Collect Wall Street Journal
“If men can’t have sex with me, they don’t know what to do”: Alanis Morissette guardian
If you separate
“I like freedom. I don’t like commitment.transparent
– Singer and Actor Barbra Streisand “very lazy”, Although she released a duo album just two years after publishing her 970-page memoir
