How Lovevery became new parents’ go-to subscription box

Welcome to the $648 billion care economy—the money we spend to care for our loved ones, from their first breath to their last. There are four dynamic areas of growth in the sector: (1) Child care. It’s a $136 billion market that’s desperate for supply and ripe for disruption and innovation. (2) Workplace. Forty-two percent of employers plan to add ... See more

The concept of subscriptions isn’t new, but thanks to the internet, any mundane purchase can seemingly be reinvented as a subscription service, from socks to baby food.

Millions of families struggle to find high-quality daycare, even though they’re willing to pay high prices: on average, more than $9,500 a year, according to a 2016 report. It’s an opportunity entrepreneurs and venture capitalists have lately picked up on, with the media paying plenty of attention.

At its height in 2018, Joymode catered to as many as 10,000 monthly customers. Subscribers paid between $22 and $29 a month, while à la carte customers paid a fee equal to 10 percent of an item's retail price. Each week, Joymode processed more than 30,000 rental products through its warehouse, and during the summers--its busiest season--took in as ... See more