×
75 194
Fashion Jobs
UNDER ARMOUR
Stock Teammate, Part-Time 6am Shift, $15.75 Per Hour
Permanent · CAMARILLO
UNDER ARMOUR
Stock Teammate, Part-Time 5am-10am Shift, $15 Per Hour
Permanent · WILLIAMSBURG
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · ELIZABETH
URBN
Anthropologie Public Relations Coordinator
Permanent · PHILADELPHIA
URBN
Anthropologie Visual Merchandising Manager
Permanent · TIGARD
URBN
Anthropologie Senior Fabric Manager
Permanent · PHILADELPHIA
URBN
Anthropologie Visual Merchandising Manager
Permanent · ANN ARBOR
URBN
Urbn Inventory Control/Quality Audit
Permanent · RENO
URBN
Urbn Security Officer (Tuesday - Thursday Day Shift)
Permanent · GAP
BATH & BODY WORKS
Senior Financial Analyst, Marketing fp&a
Permanent · COLUMBUS
H&M
Senior Director, Sales Component Engineering
Permanent · ATLANTA
SACKS
Inventory Control - Cycle Counter
Permanent · LA VERGNE
SACKS
Vendor Compliance Analyst
Permanent · WILKES-BARRE
UNDER ARMOUR
Stock Lead, ft
Permanent · KANSAS CITY
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · DAYTONA BEACH
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · MERRIMACK
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Full Time - Aventura
Permanent · MIAMI
SALLY BEAUTY CORPORATE
District Manager Sally Beauty 09661
Permanent · LITTLE ROCK
JCPENNEY
District Asset Protection Manager
Permanent · South Portland
JCPENNEY
Sales Floor Supervisor - Southpark Center
Permanent · Strongsville
SALLY BEAUTY CORPORATE
District Manager Cosmoprof 90097
Permanent · BOISE
BANANA REPUBLIC
General Manager - Powell Street
Permanent · EMERYVILLE
Published
Mar 30, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

ThredUp IPO raises $168 million, shares jump 30% in market debut

Published
Mar 30, 2021

Oakland, California-based online fashion resale platform ThredUp raised $168 million with its initial public offering (IPO) on Thursday, achieving a valuation of approximately $1.3 billion.


Facebook: ThredUp

 
The company sold 12 million shares at $14 apiece, which represented the upper end of its previously reported range of $12 to $14 per share.
 
According to ThredUp founder and CEO James Reinhart, the company plans to use the proceeds from its IPO to expand, with the addition of new product categories on the horizon. The second-hand retailer is also intending to increase investments in its operating platform and technology.

The IPO is “just another validation of the market opportunity, and ThredUp plays in the biggest, fattest part of the market at our price point,” said Reinhart in an interview cited by The Wall Street Journal on Friday.
 
And investors would certainly seem to agree, as ThredUp shares began trading at $18.25 on Friday, up 30% from their initial listing price.
 
Online resale platforms have been on the rise since before the Covid-19 pandemic, with Global Data having predicted in 2020 that the second-hand market could be worth $64 billion by 2025. But the sector has also proved to be relatively resistant to the worst economic impacts of the coronavirus crisis. Indeed, ThredUp previously claimed that it has maintained 20% growth since shelter-in-place orders were first implemented.
 
With its IPO, the company follows in the footsteps of resale rivals Poshmark and The RealReal. Poshmark made its Wall Street debut in January, seeing its shares more than double in value on its first day of trading and achieving a market capitalization of over $7 billion. It is worth noting, however, that the company’s stock has now dropped around two-thirds of its value.
 
The RealReal has been public since 2019 and has maintained a fairly stable market capitalization of $2 billion since then.
 
Founded in 2009, ThredUp achieved revenues of $186 million in 2020, up 14% year over year, according to a SEC filing made by the company. The platform’s annual loss was $48 million, compared to a loss of $38 million in the previous year.

Copyright © 2023 FashionNetwork.com All rights reserved.