An online thrift and consignment store, based in Oakland. The company was established in 2009 and has its headquarters in San Francisco, California. Over 6 rounds, thredUP raised $168M. The company’s latest funding came from a PostIPO Equity round on May 15, 2018. GV, Redpoint Ventures and Upfront Ventures are some of the investors backing thredUP.
thredup nasdaq 168m
ThredUP is an online thrift and consignment store. The company was established in 2009 and is located in San Francisco, California. thredUP has received $168 million from investors such as Kleiner Perkins and Redpoint Ventures, GGV Capital, Redpoint Ventures and Upfront Ventures.
James Reinhart and Oliver Lubin founded thredUP. Chris Homer also helped to found the company. The company’s mission statement is to “inspire new generations of shoppers to think 2ndhand first.” thredUP is a popular place for those looking for designer clothing and accessories at affordable prices. It has been recognized for its commitment towards sustainability.
thredUP filed to become public on the Nasdaq in March 2018. The proceeds of its IPO will be used by the company to expand its operations as well as to grow its customer base. thredUP hopes to capitalize on the increasing demand for secondhand goods, as more people become aware of the negative environmental effects of fast fashion.
thredUP has been on an upward trend, especially in terms of financial performance. The online consignment shop announced this week that it had raised $168,000,000 from Goldman Sachs. This brings thredUP’s total funding up to $413 million.
What’s more, thredUP’s current valuation of $1.3 billion makes it a ‘unicorn company’. It’s all due to its unique business model and strong financials.
How did thredUP achieve such great success? Let’s take a closer inspection.
Oakland-based Thredup 168m
Oakland-based fashion resale site thredUP allows users to sell and buy secondhand clothing. The company was established in 2009 and has raised more than $168 million in funding. thredUP has offices in San Francisco, New York City and Oakland in addition to its Oakland headquarters.
The business model of thredUP is based on “recommerce”, which is the recycling of old goods to extend their useful lives. It operates an online marketplace that allows users to sell and buy secondhand clothing. thredUP offers a mobile app, which makes it easy to sell and buy secondhand clothing from anywhere.
The company earns money by charging a commission for each sale made through its platform. Typically, thredUP takes between 10-20% of each transaction. The company can generate revenue and provide a service that benefits buyers and sellers through this commission structure.
Strong financials for thredUP are evident with $168 million of funding reported by the company as of 2018. thredUP’s profits are also strong, with $168 million in funding as of 2018. The increasing popularity of fashion retail and thredUP’s aggressive expansion into new markets has driven the company’s growth.
thredUP has a strong future and is well-positioned to continue its growth. It has been able to grow its business through strong financials and a unique business model. thredUP’s growth is expected to continue as the global market for secondhand clothes will reach $64 billion in 2025.
The Business Model of thredUP
thredUP allows you to sell and buy secondhand clothing on a fashion marketplace. The company was started by Oliver Lubin, James Reinhart, and Chris Homer in 2009. thredUP is a consignment company, which means that it receives a commission for each sale.
Investors include Goldman Sachs and Andreessen Horowitz. Kleiner Perkins also contributed $168 million. thredUP has its headquarters in San Francisco, with offices in Oakland, Los Angeles and New York City.
As of December 31, 2018, $168.0 million was in cash and cash equivalents and $10.4 million was in restricted cash.
thredUP’s 2018 total revenue was $168.5million, an increase of 46% over 2017. thredUP’s net loss in 2018 was $30.5million, an improvement on their 2017 net loss of $32.8million.
thredUP’s 2018 gross merchandise volume (GMV), was $1.02B, an increase 54% over 2017. thredUP had 5.6M orders in 2018, an increase 46% from 2017.
thredUP is an excellent company that has a lot to offer. They have a solid business model and strong financials. They will grow and succeed in the future, I believe.