Natalie Gordon will become executive chair as the profitable baby registry company targets $1 billion in revenue this year and weighs a potential IPO.
Babylist will replace founder Natalie Gordon as chief executive with Rent the Runway cofounder Jenn Hyman, marking a rare handoff between founders of separate companies. The change takes effect Sept. 9, with Gordon moving into the executive chair role after about 15 years building Babylist. The transition comes as Babylist is profitable and on track for $1 billion in revenue this year, a scale Gordon said helped her feel confident finding a leader for the company’s next phase. IPO speculation has also grown around the business. Hyman, who stepped down from Rent the Runway about two months ago after leading the clothing rental company through its 2021 public listing and a difficult post-pandemic stretch, said the Babylist role is her first position since leaving. Babylist has expanded beyond its core registry offering into Babylist Health and Babylist Money. The latter is built around Trump Accounts and lets family and friends contribute to a child’s investment account. Hyman said she sees room to grow the company from pregnancy through college and is considering M&A (mergers and acquisitions), while Gordon will focus on the company’s AI (artificial intelligence) strategy as chair.