| Market Capitalization (Millions $) |
347 |
| Shares
Outstanding (Millions) |
128 |
| Employees |
1,000 |
| Revenues (TTM) (Millions $) |
322 |
| Net Income (TTM) (Millions $) |
-21 |
| Cash Flow (TTM) (Millions $) |
-6 |
| Capital Exp. (TTM) (Millions $) |
13 |
Business Description
ThredUP Inc is an American online thrift store that was founded in 2009 by James Reinhart, Chris Homer, and Oliver Lubin. The company is based in San Francisco, California, and uses an online marketplace to buy and sell secondhand clothing and accessories for women, children, and men. ThredUP is known for providing affordable and sustainable fashion options for shoppers while extending the lifespan of clothing, reducing consumption and waste, and promoting environmental sustainability.
ThredUP is unique in that it offers a variety of services for both sellers and buyers. Sellers can send in their gently used clothes and accessories to ThredUP for appraisal and valuation. The company then offers two options for sellers: to receive payment for their items or to donate them to charity. Buyers, on the other hand, can browse through ThredUP's extensive collection of pre-owned clothing and accessories, often at discounted prices compared to buying new items from a traditional retailer.
ThredUP has partnerships with well-known fashion brands such as Banana Republic, J.Crew, Ann Taylor, and Gap, among others. These partnerships allow ThredUP to offer a wide range of high-quality secondhand clothing to its customers. The company also operates its own private label brand, which offers affordable and sustainable basics and eco-friendly apparel.
ThredUP uses state-of-the-art technology to sort, clean, and categorize the clothing items it receives from sellers. This technology includes an automated clothing inspection system that uses artificial intelligence to classify items by brand, size, and style. The company also offers a eClean Out Kite service to facilitate the seller process by simplifying the steps a seller must take before submitting their items to ThredUP.
ThredUP has experienced significant growth over the past few years, with the company currently valued at over $1 billion US dollars. The company has raised over $300 million in funding from various investors, including Goldman Sachs and Trinity Ventures. ThredUP has also acquired other secondhand clothing and accessory companies such as Remix and Upcycle.
Overall, ThredUP provides a unique and innovative experience for both buyers and sellers looking for a more sustainable and affordable option for fashion. With partnerships with well-known brands, a commitment to environmental sustainability, and cutting-edge technology, ThredUP is poised to be a significant player in the fashion industry for years to come.
Company Address: 969 Broadway Oakland 94607 CA
Company Phone Number: 402-5202 Stock Exchange / Ticker: NASDAQ TDUP
|
