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Online Resale Platform THREDUP Files for $100 Million US IPO

Esther Thin

ThredUp Inc, an online resale platform, has filed Form S-1 Registration Statement on March 3, 2021 with the U.S. Securities and Exchange Commission to raise up to $100 million IPO. Pricing terms are yet to announce.

The company platform is powering the rapidly emerging resale economy, the fastest growing sector in retail, according to the GlobalData Market Survey. As of December 31, 2020, they had 1.24 million Active Buyers and 428,000 Active Sellers.

The Oakland, California-based company was founded in 2009 and booked $186 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq Global Select Market under the symbol “TDUP.” Goldman Sachs, Morgan Stanley, Barclays and William Blair are underwriters of the IPO.

The company engages Goodwin Procter LLP as US Securities Counsel, and KPMG LLP as Independent Auditor.

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