ThredUp Inc (TDUP) Financial

thredUP, Inc. operates as an online clothing resale platform for apparel, shoes, and accessories. The company is headquartered in Oakland, California and currently employs 1,630 full-time employees. The company went IPO on 2021-03-26. The Company’s proprietary operating platform is the foundation for its managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. The marketplaces the Company has built enable buyers in the United States to browse and purchase resale items primarily for apparel, shoes and accessories across a range of price points. Buyers get shopping value, premium and luxury brands all in one place, at up to 90% off the estimated retail price. In addition to its core marketplace, various brands and retailers are taking advantage of its resale-as-a-service (RaaS) offering, which allows them to conveniently offer a scalable closet clean-out service and/or resale shop to their customers. The firm has processed over 200 million secondhand items from approximately 60,000 brands across 100 categories.