## Real Talk: The RealReal Founder Julie Wainwright Bares All in New Memoir
Julie Wainwright, the entrepreneur behind both Pets.com and The RealReal, has a career trajectory that could fill multiple business school case studies. Now, she’s offering a candid look behind the curtain with her new memoir, “Time to Get Real.” Forget the sanitized victory lap – Wainwright’s book promises a raw and relatable account of the challenges, setbacks, and triumphs that define true leadership.
Wainwright’s story is one of remarkable resilience. She built a successful career in the tech world of the 90s, a time when female leaders were a rarity, climbing the ranks at Clorox before taking the helm at Berkeley Systems and Reel.com. Her ability to grow Reel.com’s revenue from $3 million to $25 million caught the eye of Hollywood Video, which acquired the company. “I just operated better without a boss,” Wainwright admits, hinting at the independent spirit that would drive her later ventures.
But her career famously hit a major roadblock with Pets.com. The online pet supply startup, with its now-iconic sock puppet mascot, became a symbol of the dot-com bubble. When the bubble burst in 2000, Pets.com crumbled, leaving Wainwright to grapple with the fallout. As she reveals, the experience cast a long shadow. Recruiters essentially wrote her off, telling her “No one’s going to hire you anymore.”
Adding insult to injury, the same day Wainwright informed her employees of the company’s closure, her husband asked for a divorce. At 42, she found herself facing a crushing professional and personal crisis, amplified by intense and often negative media scrutiny.
However, Wainwright wasn’t one to stay down for long. After a period of rebuilding, she launched The RealReal in 2010, pioneering the online luxury consignment market. Starting from her own living room, the company quickly grew, eventually processing hundreds of thousands of luxury items each month across over 1.2 million square feet of warehouse space. In 2019, Wainwright achieved the rare feat of taking a second company public, proving her remarkable ability to innovate and execute.
But the story doesn’t end there. In a twist that will undoubtedly resonate with many founders, Wainwright was ousted from The RealReal in 2022 by board members she herself had appointed. She doesn’t shy away from this painful chapter in her memoir, accusing an investor of a “power play” motivated by unrealized financial gains.
Despite the bumpy ride, Wainwright continues to support the current CEO of The RealReal, the company’s first hire. This speaks volumes about her commitment to the company’s long-term success. It’s this level of honesty and transparency that makes her book so compelling. In a world of carefully crafted narratives, Wainwright offers a refreshing dose of authenticity, calling out spin and acknowledging her own mistakes.
“Time to Get Real” promises more than just personal anecdotes. Wainwright aims to provide practical advice and insights for fellow entrepreneurs. She delves into specific decision-making processes, such as bonus structures for her sales team, and shares valuable leadership lessons gleaned from McKinsey executives. One particular insight focuses on identifying and avoiding “dumb aggressive” hires – those whose egos outweigh their abilities.
Never one to rest on her laurels, Wainwright is already forging ahead with her next venture, Ahara, a nutrition company focused on personalized dietary recommendations based on genetics and individual needs.
For those seeking a no-holds-barred account of the entrepreneurial journey, “Time to Get Real” seems like a valuable read. As Wainwright stated, she wrote it “for entrepreneurs to give them a realistic view and hopefully inspire them and, you know, maybe they’ll think twice and not make the mistakes I made.”
You can listen to a full conversation with Julie Wainwright on TechCrunch’s StrictlyVC Download podcast and find the book available for purchase online.
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