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Mar 19, 2021
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ThredUp to raise up to $168 million in U.S. listing

Published
Mar 19, 2021

Online resale platform ThredUp could raise as much as $168 million in its initial public offering in New York, which it set the terms for on Thursday. 

ThredUp to raise up to $168 million in US listing. - Facebook: ThredUp


The company announced the sale of 12 million shares of Class A common stock at a proposed price between $12.00 and $14.00 per share. The shares are expected to be listed on the Nasdaq under the ticker symbol “TDUP.” 

The offering was led by Goldman Sachs & Co. LLC, Morgan Stanley and Barclays who are acting as lead book-running managers for the offering. Other book-running managers and co-managers include William Blair, Wells Fargo, KeyBanc Capital Markets, Needham & Company, Piper Sandler and Telsey Advisory Group. 

The company, founded in 2009, first filed confidentially for an initial public offering back in October when the Oakland, California-based company submitted a draft registration statement to the U.S. Securities and Exchange Commission. 

By making it easy to buy and sell secondhand, ThredUp has earned over 1.24 million active buyers and 428,000 active sellers. Most recently, the company’s 'Resale-as-a-Service' model has also landed the brand partnerships with a number of big-name retailers, including J.C. Penney, Abercrombie & Fitch, Madewell and Walmart. 

ThredUp is riding the wave of a hot U.S. IPO market. In January, online competitor Poshmark shares more than doubled in the retailer's public debut. Similarly, The RealReal launched an IPO in July 2019, with shares rising nearly 45 percent from its initial offer price.

Most recently, resale platform Reflaunt secured $2.7 million in pre-Series A funding, led by the investment arm of luxury fashion distributor MadaLuxe Group. 

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