SAN FRANCISCO – Online resale platform ThredUp has submitted a draft registration statement with the Securities and Exchange Commission for an initial public offering (IPO) of its Class A common stock.
The number of shares set to become available and the price point has not yet been revealed, but the move is likely to pique the interest of fashion industry investors as second-hand fashion currently has a market value of US$30-US$40 billion that’s expected to increase at a compound annual growth rate of 20 per cent over the next five years.
According to a statement, the IPO is expected to commence after the Commission completes its review process, subject to market and other conditions.
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