ThredUp Inc. (TDUP) is an online resale platform specializing in secondhand clothing and accessories. The company connects buyers and sellers through its marketplace, where sellers send items to be processed and listed for sale. ThredUp also offers Resale-as-a-Service (RaaS) solutions, enabling brands and retailers to integrate resale into their business models.
- Consignment Revenue - Generates revenue from items sold on behalf of sellers, net of payouts, discounts, incentives, and returns. Focuses on a consignment-based model with higher gross margins.
- Product Revenue - Earns revenue from the sale of items owned by ThredUp, including costs related to inventory, shipping, labor, and packaging.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
James Reinhart ExecutiveBoard | Chief Executive Officer | James Reinhart has served as the Chief Executive Officer, Director, and Co-Founder of ThredUp Inc. since January 2009, driving significant growth and innovation, including record quarterly revenue achievements in Q1 2025. | View Report → | |
Alon Rotem Executive | Chief Legal Officer | Alon Rotem has been the Chief Legal Officer at TDUP since February 2021 and also serves as Secretary since March 2017. He previously served as General Counsel from January 2017 to February 2021. | ||
Christopher Homer Executive | Chief Operating Officer (COO) | Christopher Homer is the Chief Operating Officer at TDUP since September 2020 and a co-founder, having previously served as Chief Technology Officer from June 2009 to September 2020. | ||
Sean Sobers Executive | Chief Financial Officer (CFO) | Sean Sobers has been the CFO and Principal Financial and Accounting Officer of ThredUp Inc. since October 2019, overseeing the company's financial operations. Prior to his current role, he held several senior financial positions, including CFO at Quantenna Communications and Corporate VP of Finance at Cadence Design Systems. | ||
Coretha Rushing Board | Member of the Board of Directors | Managing Director and Executive Coach/Mentor at The ExCo Leadership Group, LLC since February 2020; President at CR Consulting Alliance, LLC since November 2019; Board Member at Alight, Inc. since May 2024; External Board Member at Spencer Stuart | Coretha Rushing has served as a member of the Board of Directors at TDUP since January 2022. She has extensive experience in executive leadership with previous roles as Corporate Vice President and Chief Human Resources Officer at Equifax Inc. and as Senior Vice President and Chief Human Resources Officer at The Coca-Cola Company. | |
Dan Nova Board | Member of the Board of Directors | General Partner at Highland Capital Partners; Board of Trustees at Eversource Energy | Dan Nova has been serving as a board member at TDUP since September 2012. He brings extensive experience from his role as General Partner at Highland Capital Partners since 1996 and as a Board of Trustees member at Eversource Energy since June 2023. | |
Ian Friedman Board | Member of the Board of Directors | Partner and Managing Director, Co-Head of Technology Investments at L Catterton | Ian Friedman has served as a board member at ThredUp Inc. since August 2015. He brings extensive experience from leadership roles at L Catterton and other prominent financial institutions. | |
Mandy Ginsberg Board | Board Director | Board Director at Uber Technologies, Inc. since February 2020; Board Director at Universal Music Group since May 2024; Operating Partner at Advent International since October 2022 | Mandy Ginsberg has served as a board member at ThredUp Inc. since December 2020. She brings extensive leadership experience from her roles as Board Director at Uber Technologies, Inc. since February 2020, Board Director at Universal Music Group since May 2024, and Operating Partner at Advent International since October 2022. | |
Noam Paransky Board | Director | Noam Paransky has been serving as a Director at ThredUp since June 23, 2024, with extensive experience in digital transformation from previous roles at Tapestry, Inc. and Gap, Inc. | ||
Patricia Nakache Board | Chairperson of the Board | General Partner at Trinity Ventures; Lecturer in Management at Stanford Graduate School of Business | Patricia Nakache has been a board member at TDUP since June 2010 and has served as its Chairperson of the Board since September 2020, bringing extensive experience in venture capital, management consulting, and academia. | |
Timothy Haley Board | Member of the Board of Directors | Managing Director at Redpoint Ventures; Board member at Netflix, Inc.; Board member at Zuora, Inc. | Timothy Haley has been serving as a member of the Board of Directors at ThredUp Inc. since March 2011. He is a founding member and Managing Director of Redpoint Ventures since 1999 and holds board positions at Netflix, Inc. and Zuora, Inc.. |
- Based on your Q2 revenue outperformance, can you detail which specific levers—such as improved product conversion, new buyer acquisition, or operational enhancements—provided the most significant contribution, and how sustainable do you see these drivers over the next few quarters?
- With Q4 revenue guidance at only 10% YoY growth due to seasonal factors and higher ad rates, what specific risks or headwinds are you anticipating, and how are you adjusting your operational and marketing strategies to mitigate these challenges?
- Considering the complexity of managing over 4.5 million SKUs, what are the main hurdles you face in deploying and scaling your AI-driven features, and how are you ensuring that these innovations consistently enhance customer conversion and experience?
- Given the rising CPMs on platforms like Meta and Google, how do you plan to balance increased marketing spend with your target LTV-to-CAC ratio, and what adjustments are you making to sustain efficient customer acquisition as you scale?
- With your transition to an open source model for Resale as a Service (RAS) and ongoing contract constraints among brands, what are the immediate obstacles that might delay broader supply impact, and how will you measure the success of this initiative heading into 2026?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
This competitor is listed as a secondhand marketplace offering similar goods and services, competing in the resale market for secondhand items. | |
Goodwill | This competitor operates as a secondhand marketplace and is part of the competitive landscape for resale items. |
This competitor is identified as a secondhand marketplace that competes in the resale market for similar goods and services. | |
Poshmark | This competitor is mentioned as a secondhand marketplace offering similar goods and services in the resale market. |
This competitor is noted as a secondhand marketplace focusing on resale items, competing in the same market. | |
Vinted | This competitor is described as a secondhand marketplace that competes in the resale market for similar goods and services. |
Vestiaire Collective | This competitor is listed as a secondhand marketplace offering similar goods and services in the resale market. |
This competitor is categorized as a large online retailer that competes in the resale market for secondhand items. | |
This competitor is identified as a large online and discount retailer competing in the resale market. | |
This competitor is mentioned as a large online and discount retailer in the competitive landscape for resale items. | |
This competitor is described as a large online and discount retailer competing in the resale market. | |
This competitor is categorized as an off-price retailer that competes in the resale market for secondhand items. | |
This competitor is identified as an off-price retailer in the competitive landscape for resale items. | |
This competitor is mentioned as an off-price retailer competing in the resale market. | |
Shein | This competitor is described as a low-cost online fast-fashion retailer competing in the resale market. |
Temu | This competitor is listed as a low-cost online fast-fashion retailer in the competitive landscape for resale items. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Remix Global EAD | 2021 | ThredUP acquired Remix Global EAD for approximately $28.5 million, with a mix of cash, stock, and RSUs, to bolster its international expansion into Europe and leverage Remix’s custom single SKU logistics platform; the deal was structured to address outstanding debt and settle liabilities while aiming for revenue accretion and modest EBITDA improvement. |
Remix (Proposed Buyout) | 2024 | A proposed buyout transaction was outlined in a non-binding term sheet signed in October 2024, in which the Remix management team plans to buy out, while thredUP Inc. retains a minority interest, with both parties targeting a closing by the end of 2024. |
Recent press releases and 8-K filings for TDUP.
- ThredUp divested its European business in November 2024, which had been a drain on cash flow, allowing for reinvestment in the US business, which has achieved EBITDA positivity for seven consecutive quarters.
- The company reported 10% growth in Q1 and its greatest number of new customers ever acquired in Q1, driven by product improvements and a new AI infrastructure that increased conversion rates and reduced customer acquisition costs.
- Contribution margin is now in the low forties, with premium consignment items yielding 40% better contribution.
- ThredUp's current US facilities can handle $500 million to $600 million in net revenue, with an additional $50 million in CapEx potentially expanding capacity to $1 billion in revenue.
- ThredUp reported strong Q1 results, with revenue of $71 million, 79% gross margins, and 5% EBITDA margin, marking its seventh consecutive quarter of being EBITDA positive.
- The company achieved its best Q1 ever for customer acquisition, with new customers growing 95% year-over-year, and April being the best month for new buyer acquisition.
- ThredUp has leveraged AI-based search technology to significantly improve discoverability and conversion, noting an immediate jump in conversion and a 19% improvement in some assortment pages.
- The CEO emphasized that ThredUp, as a marketplace, is disproportionately benefiting from AI technology, enhancing its competitive advantages and distinguishing it from traditional retailers.
- ThredUp recently sold its European business to refocus entirely on the US market, which the CEO noted was a significant distraction.