ThredUp Inc., the US-based secondhand clothing online retailer, has, reportedly, filed an S-1 with the US Securities and Exchange Commission for an initial public offering (IPO) on 3 March.
With secondhand apparels growing in popularity in last few years, the move hasn’t come as a surprise.
This secondhand clothing retailer has listed the size of the offering as US $ 100 million and, importantly, applied on the NASDAQ list under TDUP.
ThredUp hasn’t yet confirmed the number of shares to be offered and also the price range for the proposed offering.
At a time when consumers are becoming more aware of buying eco-friendly products, ThredUp proclaims environmental benefits of buying apparels from its platform.
In fact, ThredUp has estimated of saving 1 billion pounds of carbon emissions and 4.4 billion gallons of water.
While filing IPO, the secondhand clothing retailer stated various potential risks to the business. It said “None of our employees are presently represented by a union. If our employees decide to form or affiliate with a union, we cannot predict the negative effects such future organisational activities will have on our business and operations.”
Founded in 2009, ThredUp has been successfully selling secondhand clothes online.