Today: Jul 22, 2024

What makes five men in NYC crave an exclusive girls’ club?

6 months ago

TLDR:

  • All-male startup Kiki has announced its new focus, a “girls-only” club in New York City, after previously operating as an invite-only subletting platform.
  • The company has faced criticism for receiving funding for a failed business model and for entering the women’s club space with an all-male team.
  • This pivot comes at a time when the startup sector is facing economic uncertainty and female founders continue to face funding and discrimination challenges.

Australian startup Kiki, previously known as EasyRent, has made the decision to shift away from its invite-only subletting platform model to launch a “girls-only” club in New York City. The company, which secured $4.5m in funding in 2023, will focus on creating a social space where women can connect and thrive. Kiki’s pivot has been met with criticism, with many questioning why a male-founded company would enter the women’s club space and why they received funding for a business model that failed in two markets. The move also highlights the funding inequality that female founders face, with just 2% of venture capital funding going to all-female founded teams in 2022. This shift comes at a challenging time for startups as the industry faces economic uncertainty and female founders continue to face roadblocks in funding and discrimination.