6 ms·

ThredUp S-1 IPO

43 points by marc__1 6y ago

bagels 6y ago
Our net loss was $47.9 million in 2020
- ketamine__ 6y ago
  Predictions?
  - roland35 6y ago
    The price may go up, or maybe down!
  - john_moscow 6y ago
    Fed will print more money and throw it into the crowd. The crowd will buy bitcoin and stocks. Stocks will go up. Real estate will go up. Salaries will remain where they are. Tensions in the society will go up.
- OldHand2018 6y ago
  My wife sells stuff on ThredUp from time to time. As far as ease of use goes, it's the best of them. However, the turnaround time has gone to hell. You can ship them a box of clothes and they won't open it for 6 months. An ever-increasing net loss and they can't keep up? Not a good thing. They better figure this out.
  - ketamine__ 6y ago
    The hedge fund guys just went down to the basement to look for a box.
  - HNfriend234 6y ago
    Reminds me of the old pets.com business model where the business lost more money as it scaled because at a fundamental level, the business was more costly to operate at higher scale.
    - chrisco255 6y ago
      But then many years later Chewy came along and proved Pets.com was simply an idea ahead of its time: https://www.chewy.com/ https://www.chewy.com/
- iav 6y ago
  A few insights I've learned from my meetings with the company: * The magic number is $40. If you send a large box of clothes to them, they will pay you some amount that's very near to $40. That's the amount that stops you from complaining. * They effectively sell 6mm SKUs because almost every item is unique. This makes efficient logistics key. They used to operate out of 2 warehouses, and they would charge the same for shipping from either warehouse, until some engineer pointed out that they would actually lose money if the customer ordered a low value item from the warehouse farthest from them. So then they shifted to subtly only show/promote you items that are located in the nearest warehouse to you. * Customers typically browse ThredUp while waiting in line. This is something you do to fill the time, like Twitter or Facebook. They find most purchases are impulse and average time on site/app is very low. This might be why growth isn't as good right now
nknealk 6y ago
The offer letters to key executives dated 2019 contain the following. Looks like they were doing flexible work long before COVID hit: "We currently offer all salaried, SF-based employees to work from anywhere they want on Tuesday and Thursdays and do not need to be present in the office."
sjg007 6y ago
Does ThredUp partner with thrift stores across the country?

ThredUp S-1 IPO

43 points by marc__1 6y ago

bagels 6y ago

Our net loss was $47.9 million in 2020

ketamine__ 6y ago
Predictions?
- roland35 6y ago
  The price may go up, or maybe down!
- john_moscow 6y ago
  Fed will print more money and throw it into the crowd. The crowd will buy bitcoin and stocks. Stocks will go up. Real estate will go up. Salaries will remain where they are. Tensions in the society will go up.
OldHand2018 6y ago
My wife sells stuff on ThredUp from time to time. As far as ease of use goes, it's the best of them. However, the turnaround time has gone to hell. You can ship them a box of clothes and they won't open it for 6 months. An ever-increasing net loss and they can't keep up? Not a good thing. They better figure this out.
- ketamine__ 6y ago
  The hedge fund guys just went down to the basement to look for a box.
- HNfriend234 6y ago
  Reminds me of the old pets.com business model where the business lost more money as it scaled because at a fundamental level, the business was more costly to operate at higher scale.
  - chrisco255 6y ago
    But then many years later Chewy came along and proved Pets.com was simply an idea ahead of its time: https://www.chewy.com/ https://www.chewy.com/
iav 6y ago
A few insights I've learned from my meetings with the company: * The magic number is $40. If you send a large box of clothes to them, they will pay you some amount that's very near to $40. That's the amount that stops you from complaining. * They effectively sell 6mm SKUs because almost every item is unique. This makes efficient logistics key. They used to operate out of 2 warehouses, and they would charge the same for shipping from either warehouse, until some engineer pointed out that they would actually lose money if the customer ordered a low value item from the warehouse farthest from them. So then they shifted to subtly only show/promote you items that are located in the nearest warehouse to you. * Customers typically browse ThredUp while waiting in line. This is something you do to fill the time, like Twitter or Facebook. They find most purchases are impulse and average time on site/app is very low. This might be why growth isn't as good right now

nknealk 6y ago

The offer letters to key executives dated 2019 contain the following. Looks like they were doing flexible work long before COVID hit: "We currently offer all salaried, SF-based employees to work from anywhere they want on Tuesday and Thursdays and do not need to be present in the office."

sjg007 6y ago

Does ThredUp partner with thrift stores across the country?