The San Francisco-based company is trying to start a movement that makes it easy to purchase secondhand clothing online.
By Jason Del Rey.
The shakeout in the online used-clothing industry is here, and ThredUp is looking to separate from the pack.
The San Francisco-based shopping site, which sells secondhand clothing for women and children, has raised an $81 million investment led by Goldman Sachs Investment Partners that a source says values the company at around $500 million. The investment appears to be the largest to date in a company specializing in the sale of secondhand clothing. CEO James Reinhart declined to comment on the valuation and whether any of the funds would be used to buy shares from early investors or employees. The company has now raised more than $125 million in total from investors including Upfront Ventures, Trinity Ventures, Highland Capital Partners and Redpoint Ventures.
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