Inside Warby Parker: From 2010 to Now Into a $290 million business
Founders: Neil Blumenthal, Dave Gilboa, Andy Hunt, Jeff Raider
Founded Year: 2010
Investors: Tiger Global, General Catalyst, First Round Capital
Funding Raised: $290 million
What Is the business model of Warby Parker?
Designer eyewear brand that offers prescription glasses and sunglasses at lower prices by selling directly to consumers online (and later via its own stores), with try-at-home kits and virtual try
How Warby Parker got started?
Started as a class project at Wharton by four friends who wanted to disrupt the overpriced eyewear market by selling glasses online for under $100.
what growth strategy has Warby Parker followed?
They launched a Home Try-On program, built a strong brand with millennial appeal, and expanded into physical retail stores in key cities.
what are the top products/features of Warby Parker
Prescription eyeglasses, sunglasses, virtual try-on app, home try-on kits, in-store eye exams
what was the biggest challenge faced by Warby Parker?
Convincing customers to buy prescription glasses online without trying them on was tough in the early days.