Adds particulars from assertion, on funding Oct 21 (Reuters
Adds particulars from assertion, on funding
Oct 21 (Reuters) – Resale clothes agency ThredUp Inc stated on Wednesday it has confidentially submitted paperwork with the U.S. Securities and Alternate Fee for an preliminary public providing of its Class A typical inventory.
The scale and value vary of the providing haven’t but been decided, the corporate stated. (https://refini.television/2HkHFNR)
The agency’s proposed IPO comes amid file excessive investor demand for brand new shares.
Corporations have raised roughly $114 billion in U.S. IPOs to date in 2020, comfortably outpacing a $62.5 billion haul for all of 2019, and is already the largest 12 months for brand new listings in current reminiscence, in response to information from Dealogic, which has tracked IPO information since 1995.
ThredUp obtained $175 million in funding in August final 12 months, which it stated can be used to develop its platform to supply resale clothes companies to retailers. (https://reut.rs/37vA2Pg)
Until date, the corporate has raised roughly $340 million in funding from buyers equivalent to Goldman Sachs, Highland Capital Companions and Redpoint Ventures, in response to startup information platform PitchBook.
(Reporting by Niket Nishant in Bengaluru; Modifying by Shailesh Kuber)
(([email protected];))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.