Oakland, California-based clothing resale platform THREDUP has been added to the Nasdaq Stock Market thanks to an Initial Public Offering (IPO) of 168 million. After reaching its highest ever share price of $31, the company is now valued at around $3.21 billion.
What is THREDUP?
Founded in 2009, OaklandBased THREDUP Nasdaq 168M is the world’s largest online thrift store and one of the biggest players in the re-commerce market. It has a presence in over 30 countries, including the US, UK, Australia, France, and Germany.
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The company offers a full-service fashion resale platform, wherein customers can buy and sell used apparel and accessories. THREDUP has built its market dominance by making the process of reselling clothing and accessories simpler and more efficient. The company operates through two platforms: THREDUP Shopping, which helps customers purchase secondhand items at discounted prices, and THREDUP Selling, which enables customers to quickly and effortlessly sell their pre-owned clothing.
THREDUP’s Initial Public Offering (IPO)
On April 7, Oaklandbased THREDUP went public on the Nasdaq with an Initial Public Offering (IPO). The IPO consisted of 12,666,666 shares at a price of $13 per share.
The company had initially set the price range at between $11 and $13 per share – a range that was eventually surpassed when the stock hit its highest ever share price of $31. As a result, the company saw a 150 percent increase in its market value, pushing THREDUP’s valuation to around $3.21 billion (circa April 2021).
As of April 21, shares of THREDUP were trading at around $26.
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Benefits of THREDUP Going Public
Oaklandbased THREDUP’s Nasdaq listing has enabled the company to raise funds to further its goal of becoming the largest and most successful thrift store in the world.
The company has stated that these new funds will help it invest in research and development, as well as in its growth strategies. In a statement, THREDUP said that this includes plans “to create a destination for customers seeking quality, sustainable, and affordable clothing options with ever-widening product selection, digital upside, and never-ending experiences.”
The company has also noted that the IPO listing has enabled it to gain access to the public capital markets. This will further strengthen the financial health of the company, as well as bolster its profile and reputation.
Conclusion
OaklandBased THREDUP Nasdaq 168M has reached a historic milestone by being listed on the Nasdaq stock market with its Initial Public Offering (IPO) of 168 million. The company saw an impressive 150 percent increase in its market value, valuing the company at around $3.21 billion (circa April 2021).
The company is now well positioned to start investing in its growth strategies, including product selection, digital upside, and never-ending experiences. The public listing of THREDUP has enabled it to gain access to the public capital markets, which will improve its financial health and bolster its profile and reputation.
FAQs
Q. What is THREDUP?
- THREDUP is the world’s largest online thrift store and one of the biggest players in the re-commerce market. It offers a full-service fashion resale platform, wherein customers can buy and sell used apparel and accessories.
Q. What was the result of THREDUP’s Nasdaq listing?
- Thanks to the Initial Public Offering (IPO) of 168 million, the company saw a 150 percent increase in its market value, pushing THREDUP’s valuation to around $3.21 billion (circa April 2021). The company is now well positioned to start investing in its growth strategies.
Q. What other benefits does the listing on Nasdaq offer?
- THREDUP’s listing on Nasdaq has enabled it to gain access to the public capital markets. This will further strengthen the financial health of the company, as well as bolster its profile and reputation.
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