The American secondhand clothing online retailer ThredUp Inc. has filed confidentially for US initial public offering (IPO).
The retailer submitted a draft registration statement on Form S-1 to the US Securities and Exchange Commission.
Reportedly, the IPO will start after the review process by the regulator.
However, the number of shares to be offered and the price range of the offering haven’t yet been determined.
Back in August, as per Bloomberg, ThredUp had said that it is targeting a listing in early 2021 and could raise US $ 200 million to US $ 300 million.
Here it is important to note that Goldman Sachs Group Inc., which has invested in ThredUp, is advising the secondhand clothing retailer in its listing.
The decision of ThredUp to go public follows rival Poshmark’s confidential filing to go public in September 2020 – after several delays.
As it was with ThredUp, in Poshmark’s case too number of shares to be offered and the price range of the offering are not determined.
Founded in 2009, ThredUp has been successfully selling secondhand apparels online.
Know more about where secondhand clothing market is heading to in our feature https://apparelresources.com/business-news/retail/secondhand-clothing-market-predicted-grow-big-decade-may-touch-us-64-billion-2024/