Toys 'R' Us is back. Meet the $40 million-backed startup that made it possible: by AlexandraNWil
Phillip Raub, Vibhu Norby and William Mintun are the cofounders of B8ta, a San Francisco-based company that has already raised $40 million from investors.In September 2017 Toys ‘R’ Us filed for bankruptcy, seeking relief from over $5 billion in debt. Within a year, the 70-year-old brand had closed the doors of over 800 stores. But today the storied company announced that it will return to the US market in time for the holidays, with retail locations in Houston and Paramus, New Jersey.
Norby first cut his teeth in business founding Y Combinator-backed social media platform Origami Labs, which was quickly acquired by Nest. When Google acquired that company a few months later, he started turning his attention to retail. Putting his philosophy training to use, he studied why people were no longer buying hardware at places like BestBuy.
“The focus of our company is the offline experience,” says Norby. “Companies have a growing appetite for data to adjust their product, pricing and merchandising.”
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