Twice (online retailer)

Last updated
Twice
Type Subsidiary of eBay
Industry E-commerce, Apparel, Retail
Founded2012
FoundersNoah Ready-Campbell, Calvin Young
Headquarters San Francisco, California, United States
Number of employees
250+

Twice was an online marketplace for buying and selling secondhand apparel [1] based in San Francisco, CA. [2] The e-commerce platform was created to make selling used goods easier and shopping used like buying new. [3] Twice manages the selling process for the customer, such as pricing, shipping and merchandising. [4] Twice vets each item to ensure it meets “like new” standards. [5] The company currently buys and sells men's and women's clothing as well as women’s shoes and handbags from popular retailers and brands. [6]

Contents

Twice was acquired by eBay in July 2015. [7] Since launching, the company has grown to more than one million users. [8]

History

Twice launched in 2012 starting with women's clothing. [9] In October 2014, the company expanded into women's shoes and handbags. [10] Twice launched into menswear in January 2015. [11] As of late 2015 Twice has been shut down.

Founders

Noah Ready-Campbell and Calvin Young are the founders of Twice. Noah is the CEO of Twice and Calvin is the CTO. [12] Noah and Calvin started their careers at Google and joined Y Combinator. [13] Noah graduated from the University of Pennsylvania’s Wharton School with a dual degree in engineering from the Jerome Fisher Program in Management and Technology. [14] Calvin received a dual degree from the University of North Carolina, Chapel Hill. [15]

Funding/strategic partners

Twice is backed by Andreessen Horowitz, SV Angel and IA Ventures. [16] To date, Twice has received $23.1 Million in funding. [17]

Buying and selling

Users can sell clothing, shoes and handbags in two ways: request a prepaid selling kit or print out a shipping label. [18] Twice processes the items and sends an all-or-nothing offer to the user within days, which users accept or reject. [19] If accepted, Twice offers multiple options for immediate payout including PayPal and Venmo. [20] If rejected, Twice charges $4.95 for return shipping. [21] Items that are not returned are donated or recycled. [22]

Each item Twice receives is assessed based on company requirements: items must be less than five years old, an accepted brand, and in like-new condition. [23] Once approved, items are priced, steamed, merchandised and listed for purchase at roughly 70-90% less than the original retail value. [24]

Awards and recognition

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References

  1. ↑ "Secondhand Clothing Marketplace Twice Raises $18.5M From Andreessen Horowitz". TechCrunch. Retrieved 16 January 2014.
  2. ↑ "How I Built It: Startup Takes Second Look at Used Clothes". Wall Street Journal. Retrieved 7 May 2014.
  3. ↑ "Twice Is Making Selling Clothes Online Easier Than Ever". Complex. Retrieved 27 January 2015.
  4. ↑ "The Startup That Thinks It Can Dethrone eBay". Wired. Retrieved 26 January 2015.
  5. ↑ "After Selling My Clothes Through The Mail, I Think Online Consignment Is Brilliant". Business Insider. Retrieved 22 August 2014.
  6. ↑ "How a Lifelong Obsession With Secondhand Clothes Led to $23 Million in Funding". Inc. Retrieved 23 April 2015.
  7. ↑ "eBay Has Bought Twice, an Online Consignment Shop for Women's Clothing". Recode. Retrieved 20 July 2015.
  8. ↑ "Secondhand Shop Twice Now Lets You Pay With Other Retailers' Gift Cards". TechCrunch. Retrieved 18 February 2015.
  9. ↑ "How I Built It: Startup Takes Second Look at Used Clothes". Wall Street Journal. Retrieved 7 May 2014.
  10. ↑ "Eight Things You Need to Know About Twice". Racked. Retrieved 16 March 2015.
  11. ↑ "Eight Things You Need to Know About Twice". Racked. Retrieved 16 March 2015.
  12. ↑ "Startup Offers Failed Entrepreneurs A Million-Dollar Signing Bonus". Business Insider. Retrieved 8 October 2012.
  13. ↑ "WHO NEEDS Y COMBINATOR, ANYWAY? NOT THESE TWO DROPOUTS". Fast Company. Retrieved 13 December 2012.
  14. ↑ "If You Weren't An Entrepreneur, What Would You Be?". UPenn.edu. Retrieved 22 July 2014.
  15. ↑ "Is 30 Now Entrepreneurially Old? Two of Forbes' '30 Under 30′ Say It Ain't So". Pursuitist. Retrieved 31 March 2015.
  16. ↑ "Andreessen Horowitz helps online thrift shop Twice raise $18.5M". Silicon Valley Business Journal. Retrieved 16 January 2014.
  17. ↑ "Millennials' Used-Garment Website Says You Can 'Venmo Me'". Bloomberg. Retrieved 23 September 2014.
  18. ↑ "Eight Things You Need to Know About Twice". Racked. Retrieved 16 March 2015.
  19. ↑ "How a Lifelong Obsession With Secondhand Clothes Led to $23 Million in Funding". Inc. Retrieved 23 April 2015.
  20. ↑ "Millennials' Used-Garment Website Says You Can 'Venmo Me'". Bloomberg Businessweek. Retrieved 23 September 2014.
  21. ↑ "Twice Is Making Selling Clothes Online Easier Than Ever". Complex. Retrieved 27 January 2015.
  22. ↑ "Twice aims for hassle-free secondhand buying and selling online". SFGate. Retrieved 24 August 2012.
  23. ↑ "How I Built It: Startup Takes Second Look at Used Clothes". Wall Street Journal. Retrieved 7 May 2014.
  24. ↑ "WHO NEEDS Y COMBINATOR, ANYWAY? NOT THESE TWO DROPOUTS". Fast Company. Retrieved 13 December 2012.
  25. ↑ "100 Brilliant Companies". Entrepreneur. Retrieved 8 June 2015.
  26. ↑ "Forbes 30 Under 30". Forbes. Retrieved 1 January 2015.
  27. ↑ "How a Lifelong Obsession With Secondhand Clothes Led to $23 Million in Funding". Inc. Retrieved 23 April 2015.
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