Thredup

thredUP Inc.
Private[1]
Industry Recommerce
Founded January 2009 (January 2009)[2] in Cambridge, Massachusetts[3]
Founders
  • James Reinhart
  • Chris Homer
  • Oliver Lubin
Headquarters San Francisco, CA[4], United States
Key people
  • James Reinhart (Co-founder & CEO)
  • John Voris (COO)
    Anthony Marino (CMO)
  • Chris Homer (Co-founder & CTO)
  • Oliver Lubin (Co-founder & CCO)

[5]

Products Used Kids’ and Women’s Clothing[6]
Website thredup.com

thredUP is a fashion resale website for consumers to buy and sell secondhand clothing online. thredUP is part of a larger Collaborative Consumption movement, which encourages consumers to live in a more collective, sharing economy.[7][8] Other U.S. companies in the recommerce industry[9][10] with thredUP include Gazelle, uSell, Nextworth, and The RealReal. thredUP is advised by current Netflix CEO Reed Hastings and former eBay CEO, Brian Swette. Trinity Ventures, Redpoint Ventures and Highland Capital Partners have invested in the company.

History

In early 2009, James Reinhart, Chris Homer, and Oliver Lubin co-founded thredUP in Cambridge, Massachusetts,[11][12] testing a stealth pilot for peer-to-peer online sharing of men’s dress shirts,[11] and in September 2009, they launched their first official product focused on swapping men’s and women’s clothes.[12] Due to underperformance in the men & women demographics, thredUP pivoted towards children’s clothing in April 2010.[12] This pivot resulted in greater growth, which attracted the attention of the venture capital community.[12]

In July 2010, they raised $1.4mm led by Trinity Ventures,[12][13] relocated to San Francisco in September 2010,[14][15] and then raised an additional $7mm led by Redpoint Ventures in May 2011.[12][16] In March 2012, thredUP shut down its kids clothes swapping service in favor of online kids’ clothing consignment.[17] Subsequently, they raised another $14.5mm in October 2012,[18] allowing them to enter the juniors consignment market in January 2013,[19] women’s clothing consignment in April 2013,[20] high-end fashion consignment in April 2014 with their X Collection,[21] and women’s handbag consignment in May 2014.[22] In July 2014, thredUP received another $23mm of funding but has not yet commented on their plans for this series of funding.[23]

References

  1. ↑ "Company Overview of thredUP Inc.". businessweek.com. Bloomberg Businessweek. Retrieved 9 September 2014.
  2. ↑ "thredUP". crunchbase.com. CrunchBase. Retrieved 9 September 2014.
  3. ↑ "Test-swapping with ThredUp, children's clothing exchange founded in Cambridge". boston.com. Retrieved 9 September 2014.
  4. ↑ "thredUP". linkedin.com. Retrieved 9 September 2014.
  5. ↑ "Our Team". thredup.com. Retrieved 9 September 2014.
  6. ↑ "About thredUP". thredup.com. Retrieved 9 September 2014.
  7. ↑ http://www.economist.com/node/17249322?story_id=17249322&fsrc=rss
  8. ↑ http://www.fastcompany.com/3007770/when-it-comes-sharing-startups-airbnb-model-doesnt-work-everyone=rss
  9. ↑ http://schedule.sxsw.com/2013/events/event_IAP1294=rss
  10. ↑ http://www.xconomy.com/boston/2013/10/22/gazelle-apple-amazon-future-recommerce=rss
  11. 1 2 Boland, Will. "New HBS Start-Up, ThredUp, Aims to ReFresh Your Closet". harbus.org. Retrieved 10 September 2014.
  12. 1 2 3 4 5 6 Levinson, Philip. "ThredUp's HBS Founders Master the Art of the Pivot". harbus.org. Retrieved 10 September 2014.
  13. ↑ Rao, Leena. "Kids Clothing Swap ThredUP Raises $1.4M From Trinity Ventures, Founder Collective And Others". techcrunch.com. Retrieved 10 September 2014.
  14. ↑ Kutz, Erin. "ThredUP Swaps Boston-Area Office for San Francisco; Leaving New England Has Tradeoffs, CEO Says". xconomy.com. Retrieved 10 September 2014.
  15. ↑ "MEET THE THREDUP TEAM: SAY HELLO TO DAN!". blog.thredup.com. thredUP. Retrieved 10 September 2014.
  16. ↑ Gannes, Liz. "ThredUP Raises $7M for Swapping Kids Clothing". allthingsd.com. Retrieved 10 September 2014.
  17. ↑ Perez, Sarah. "ThredUP Shuts Down Kids Clothes Swapping Service In Favor Of Online Consignment". techcrunch.com. Retrieved 10 September 2014.
  18. ↑ Perez, Sarah. "Kids' Clothing Service thredUP Raises $14.5M Series C, Plans Expansion Into Teen & Adult Apparel". techcrunch.com. Retrieved 10 September 2014.
  19. ↑ Perez, Sarah. "Online Kids' Clothing Consignment Service thredUP Opens Its Next New Vertical: Juniors". techcrunch.com. Retrieved 10 September 2014.
  20. ↑ Carney, Michael. "ThredUp enters women's fashion consignment with more inventory than all competitors combined". pando.com. Retrieved 10 September 2014.
  21. ↑ Perez, Sarah. "Online Consignment Shop ThredUp Expands Into High-End Fashion With Launch Of "X Collection"". techcrunch.com. Retrieved 10 September 2014.
  22. ↑ "thredUP Adds Handbags to its Women's Shopping Experience". businesswire.com. Retrieved 10 September 2014.
  23. ↑ Novet, Jordan. "Fashion startup ThredUp raises $23M to put a hurt on Poshmark & Threadflip". venturebeat.com. Retrieved 10 September 2014.
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