Thredup

Last updated
ThredUp Inc.
Private [1]
Industry Recommerce
FoundedJanuary 2009 (January 2009) [2] in Cambridge, Massachusetts [3]
Founders
  • James Reinhart
  • Chris Homer
  • Oliver Lubin
Headquarters,
Key people
  • James Reinhart (Co-founder & CEO)
  • John Voris (COO)
    Anthony Marino (CMO)
  • Chris Homer (Co-founder & CTO)
  • Oliver Lubin (Co-founder & CCO)
[5]
ProductsUsed Kids’ and Women’s Clothing [6]
Website thredup.com

thredUP is a fashion resale website for consumers to buy and sell secondhand clothing online. thredUP is part of a larger Collaborative Consumption movement, which encourages consumers to live in a more collective, sharing economy. [7] [8] Other U.S. companies in the recommerce industry [9] [10] with thredUP include Tradesy, Gazelle, uSell, Nextworth, and The RealReal. thredUP is advised by current Netflix CEO Reed Hastings and former eBay CEO, Brian Swette. Trinity Ventures, Redpoint Ventures and Highland Capital Partners have invested in the company.

Collaborative consumption encompasses the sharing economy. Collaborative consumption can be defined as the set of resource circulation systems, which enable consumers to both "obtain" and "provide", temporarily or permanently, valuable resources or services through direct interaction with other consumers or through a mediator. Collaborative consumption is not new; it has always existed.

Sharing economy is a term for a way of distributing goods and services, a way that differs from the traditional model of corporations hiring employees and selling products to consumers. In the sharing economy, individuals are said to rent or "share" things like their cars, homes and personal time to other individuals in a peer-to-peer fashion.

Recommerce or reverse commerce, refers to the process of selling previously owned, new or used products, mainly electronic devices or media such as books, through physical or online distribution channels to companies or consumers willing to repair, if necessary, and reuse, recycle or resell them afterwards.

Contents

History

In early 2009, James Reinhart, Chris Homer, and Oliver Lubin co-founded thredUP in Cambridge, Massachusetts, [11] [12] testing a stealth pilot for peer-to-peer online sharing of men’s dress shirts, [11] and in September 2009, they launched their first official product focused on swapping men’s and women’s clothes. [12] Due to underperformance in the men & women demographics, thredUP pivoted towards children’s clothing in April 2010. This pivot resulted in greater growth, which attracted the attention of the venture capital community. [12]

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References

  1. "Company Overview of thredUP Inc". businessweek.com. Bloomberg Businessweek. Retrieved 9 September 2014.
  2. "thredUP". crunchbase.com. CrunchBase. Retrieved 9 September 2014.
  3. "Test-swapping with ThredUp, children's clothing exchange founded in Cambridge". boston.com. Retrieved 9 September 2014.
  4. "thredUP". linkedin.com. Retrieved 9 September 2014.
  5. "Our Team". thredup.com. Retrieved 9 September 2014.
  6. "About thredUP". thredup.com. Retrieved 9 September 2014.
  7. http://www.economist.com/node/17249322?story_id=17249322&fsrc=rss
  8. http://www.fastcompany.com/3007770/when-it-comes-sharing-startups-airbnb-model-doesnt-work-everyone=rss
  9. http://schedule.sxsw.com/2013/events/event_IAP1294=rss
  10. http://www.xconomy.com/boston/2013/10/22/gazelle-apple-amazon-future-recommerce=rss
  11. 1 2 Boland, Will. "New HBS Start-Up, ThredUp, Aims to ReFresh Your Closet". harbus.org. Retrieved 10 September 2014.
  12. 1 2 3 Levinson, Philip. "ThredUp's HBS Founders Master the Art of the Pivot". harbus.org. Retrieved 10 September 2014.