oaklandbased thredup 168m
ThredUp, a popular online second-hand clothing retailer based in Oakland, California, has recently closed a $168 million Series F funding round. The round was led by Goldman Sachs and included participation from new and existing investors, such as Y Combinator and GV. This brings the company’s total funding to more than $310 million.
ThredUp was founded in 2009 with the mission of making secondhand the new firsthand. The company has since grown to become one of the largest online thrift stores in the world. The company sells both men’s and women’s clothing, as well as various accessories, such as purses, wallets, and jewelry. They have also recently started offering furniture and home decor.
The company has seen rapid growth in the past few years. In its most recent funding round, ThredUp raised $168 million, bringing its total funding to more than $310 million. This funding will be used to fuel the company’s expansion into more categories and markets. ThredUp recently announced plans to open its first offline store in San Francisco. This is in addition to their existing presence in more than 6,000 stores across the country.
The company has also announced plans to expand into new categories. This includes the launch of a new marketplace for luxury items, as well as the launch of a new line of eco-friendly clothing. The company is also working on a new mobile app.
ThredUp is also looking to expand its presence in international markets. This includes the launch of a new website in the UK and Europe, as well as the expansion of its presence in India, Australia, and New Zealand.
The company’s success is due in large part to its commitment to sustainability. ThredUp is committed to reducing the environmental impact of fast fashion. All of the company’s clothes are responsibly sourced, inspected for quality, and then donated or recycled if they cannot be sold. This commitment to sustainability has helped the company to gain the trust of customers and investors alike.
The recent $168 million funding round is a testament to ThredUp’s success. The funds will be used to fuel the company’s expansion into new markets and categories. This will help to further the company’s mission of making secondhand the new firsthand.
FAQ
Q1: What is ThredUp?
A1: ThredUp is an online second-hand clothing retailer based in Oakland, California. The company sells both men’s and women’s clothing, as well as various accessories, such as purses, wallets, and jewelry.
Q2: How much funding has ThredUp raised?
A2: ThredUp has raised more than $310 million in total funding. This includes a $168 million Series F funding round that was led by Goldman Sachs and included participation from new and existing investors.
Q3: What will the funding be used for?
A3: The funding will be used to fuel the company’s expansion into more categories and markets. This includes plans to open its first offline store in San Francisco, as well as the launch of a new marketplace for luxury items and the launch of a new line of eco-friendly clothing.
Q4: What is ThredUp’s commitment to sustainability?
A4: ThredUp is committed to reducing the environmental impact of fast fashion. All of the company’s clothes are responsibly sourced, inspected for quality, and then donated or recycled if they cannot be sold.
