default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

ThredUp Plans IPO Early Next Year

The secondhand fashion e-tailer could raise between $200 million and $300 million, people familiar with the matter said.
ThredUp | Source: Shutterstock
By
  • Bloomberg

SAN FRANCISCO, United States — ThredUp Inc., an online marketplace for secondhand clothing, is gearing up to go public, according to people with knowledge of the matter.

The San Francisco-based company has invited investment banks to pitch for a role in its initial public offering, said the people, who asked not to be identified because the information is private. The IPO, targeted for early next year, could raise $200 million to $300 million, one of the people said.

The company’s plans, including the timing, could still change, the people said. Goldman Sachs Group Inc., which is a backer of ThredUp, is advising it on its listing plans, one of the people said. Other banks could join the process later.

A representative for ThredUp couldn’t be immediately reached for comment. A spokesperson for Goldman Sachs declined to comment.

ThredUp raised $175 million last year from new and existing investors including Park West Asset Management and Irving Investors. ThredUp was valued in that round at $670 million, according to PitchBook.

In May the company announced a partnership with retailer Walmart Inc. to sell used women’s and children’s clothing on its website. ThredUp, like some other internet retailers, has fared relatively well in the coronavirus pandemic as sales have shifted online.

ThredUp’s higher-end rival, Poshmark Inc., delayed its listing to focus on boosting sales and improving its execution, Bloomberg News has reported. Shares of luxury reseller The RealReal Inc., which went public a year ago, are down 5.9 percent this year.

By Crystal Tse, Katie Roof and Gillian Tan.

In This Article
Topics
Organisations
Tags

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.


The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.



view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections