Good morning, When Tyler Haney appeared on the cover of Inc. two years ago, the direct-to-consumer athletic apparel company she founded in 2012, Outdoor Voices, was one of the hottest startups in America's hottest startup city, Austin. By late last year, the startup had opened 11 brick-and-mortar stores around the country. Then came news of internal turmoil. Outdoor Voices had raised more than $60 million in venture capital, but its latest round, which closed in early 2020, valued the company at only $40 million, compared with $110 million two years earlier. Employees accused Haney of everything from cronyism to wasteful spending, and alluded to friction between her and chairman Mickey Drexler, who had previously turned the Gap and J. Crew into retail icons. This past February, Haney announced that she was stepping down, just as she was set to return from maternity leave--and has been quiet since. Until now. Read our story to hear Haney describe her saga for the first time, from startup hero to cautionary tale, what she learned through the experience, and what she hopes to do with that new knowledge. |
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