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No Limits with Rebecca Jarvis

#95: Jetblack CEO, Jenny Fleiss: How to Build a Company Within a Company

No Limits with Rebecca Jarvis

ABC News

Business, Careers

4.7703 Ratings

🗓️ 31 July 2018

⏱️ 32 minutes

🧾️ Download transcript

Summary

Jenny Fleiss describes herself as an "entrepreneur at heart," a title that goes back to when she decided to launch a lemonade stand at just 8 years old. Jenny later went on to Harvard Business School where she met her Rent the Runway co-founder Jenn Hyman and launched a company to revolutionize women's wardrobes. She's since left the day-to-day operations of Rent the Runway (but remains on the board) and is now the CEO and Co-Founder of Jetblack, a company within Walmart's startup incubator that acts as a personal shopper - all over text message. On this episode, Jenny opens up about creating a company inside of Walmart, her decision to leave Rent the Runway, her tips for entrepreneurs, her thoughts on using business school as a career pivot and more. Congratulations to our No Limits Entrepreneur of the Week: Courtney Kates, Founder and Designer of Maison Du Soir Find out more: https://maisondusoir.com/ Want to be a featured NLEOTW? Know someone who should? Send your nominations to [email protected] Don’t forget to subscribe and leave us a review! It’s easy! Click here: http://bit.ly/2ks4f90 ABOUT REBECCA JARVIS: Rebecca Jarvis is an Emmy Award-winning journalist and the Chief Biz, Tech and Econ correspondent for ABC News. Follow Rebecca Jarvis: www.Instagram.com/RebeccaJarvis www.Twitter.com/RebeccaJarvis www.Facebook.com/RebeccaJarvis https://www.linkedin.com/in/rebecca-jarvis-217ba052/ Snapchat: RebeccaJarvis Learn more about your ad choices. Visit

Transcript

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0:00.0

every day I am seeing a new problem thinking of a new solution. I have to like hold myself back

0:06.2

on starting and working on new concepts all the time. And so that energy and that drive to work

0:11.3

at a really early stage startup really started to get a little bit lost as the company grew.

0:16.4

I was still kind of itching for that 30 person team in a a room, all cram there, working on an early-stage concept.

0:23.9

From ABC, it's no limits.

0:26.9

I'm Rebecca Jarvis, and each week we're talking to the most bold and influential women playing at the top of their game,

0:34.3

trying to demystify success and what it really takes to get there and all the

0:39.4

tradeoffs, whether you're looking for answers or you just want to hear a good story,

0:44.7

you're in the right place.

0:47.0

On today's episode, you probably recognize the name of this entrepreneur's first major company,

0:52.9

Rent the Runway.

0:53.8

Well, she co-founded it alongside

0:56.0

her business school classmate and a No Limits podcast alum, Jen Hyman. And while she's still on the

1:02.2

board of Rent the Runway, Jenny Fleiss is now the CEO and co-founder of Jetflack. Jetflack is a

1:08.7

personal shopping service via text message, which was born out of Walmart's

1:12.8

startup incubator. And what I think is really interesting about Jenny's story is that she was able to

1:19.3

create this company with the backing of an enormous organization, Walmart. Or as Jenny says,

1:25.9

creating a template for innovation inside of one of the largest retailers

1:29.7

in the world. I think this is really an interesting story for anyone who's working inside a big

1:35.7

company. Maybe you're not sure you want to take that leap and build your own thing. Well,

1:41.2

it's possible to do it from within. Here's Jenny to tell you how she did.

1:46.4

Jenny Fleiss, welcome to No Limits. Thank you. Thanks for having me. I'm thrilled to have you.

...

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