News

In a small New York office filled with 20-something energy, Phoebe Gates, the youngest daughter of Bill and Melinda Gates, has launched Phia — a fashion price-comparison tool aimed at young online shoppers. Co-founded with her Stanford roommate, climate activist Sophia Kianni, Phia seeks to be the "Booking.com of fashion," offering users instant price comparisons across thousands of e-commerce sites for new and secondhand items, the New York Times reported.

Balancing privilege and ambition

Phoebe Gates, 22, acknowledges the advantage her family name provides but is determined to prove herself on her own merit. "If the business is successful, people will say, ‘It’s because of her family,’ and a huge portion of that is true," she said. "But I also feel a huge amount of internalized pressure." Despite her famous last name, Gates and Kianni raised funds independently, starting with seed capital from Soma Capital and a Stanford social entrepreneurship grant before attracting venture backing and angel investors.

Phia’s fashion-first focus

Born from their own struggles finding affordable fashion while at Stanford, Phia aggregates listings from about 40,000 sites — including resale marketplaces like the RealReal and Vestiaire — and highlights price histories to help users determine if a product is a good deal. Revenue will come from affiliate links. The platform’s unique price graph shows shoppers whether an item is fairly priced and predicts resale value, a feature designed to appeal to financially savvy Gen Z consumers.

Personal passion meets professional ambition

Gates, an avid secondhand shopper and fashion enthusiast, credits her love for the industry as a driving force. Most of her wardrobe comes from resale sites, and she carefully curates outfits each week. "We are the girls who are scouring shopping sites for deals," she said. "And there are thousands of others like us."

Growing a team and a brand

Phia now employs a small team, including engineers and designers, with all employees owning equity. The founders also produce a podcast, The Burnouts With Phoebe and Sophia, chronicling their journey as young female entrepreneurs. Although Bill Gates offered advice, he did not finance Phia directly, emphasising the importance of building independence.

A new kind of start-up story

As the platform launched in April, Gates and Kianni are betting that a combination of lived experience, savvy digital marketing, and a growing consumer appetite for smarter shopping will carve Phia a niche in the crowded e-commerce landscape — and prove that even a Gates name must hustle to succeed.

Discover the latest Business News, Budget 2025 News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

${res.must_watch_article[0].headline}

Sensex Today RIL Q4 Results 2025 Jammu Kashmir News Live CSK vs SRH Live Score Chris Wood HDFC Securities Asaduddin Owaisi Manipur HS Result KTET Result 2025 IPL Points Table 2025

Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups

Home Currencies Commodities Pre-Market IPO Global Market Bonds

Home Loans up to 50 Lakhs Credit Cards Lifetime Free Finance TrackerNew Fixed Deposits Fixed Deposit Comparison Fixed Income

Home MC 30 Top Ranked Funds ETFs Mutual Fund Screener

Income Tax Calculator EMI Calculator Retirement Planning Gratuity Calculator

Stock Markets

News18 Firstpost CNBC TV18 News18 Hindi Cricketnext Overdrive Topper Learning

About Us Contact Us Advisory Alert Advertise with Us SupportDisclaimer Privacy Policy Cookie Policy Terms & Conditions Financial Terms (Glossary) Sitemap Investors

You are already a Moneycontrol Pro user.