Revolve cofounders Michael Mente (left) and Mike Karanikolas (right) are billionaires thanks to a soaring share price. RevolveNearly two decades after starting e-commerce clothing retailer Revolve, cofounders Michael Mente and Mike Karanikolas are billionaires thanks to a soaring stock price, the power of influencers pushing their favorite clothes and post-Covid optimism. The company’s stock has skyrocketed in the last year, as shoppers flocked online during the pandemic. Karanikolas says that as Revolve’s stock dropped to $14 last year, the company received many loan offers from banks. To compensate in pandemic times, Revolve shifted to virtual events, including live Instagram workouts, cooking demos and collection previews.

Source: Forbes May 06, 2021 11:00 UTC