Secondhand clothing and accessories company ThredUp has confidentially filed to go public. The company will make class A common stock available, though the number of shares and price range have yet to be determined. ThredUp, which is known for its annual resale reports as well as the goods for sale, joins a number of other digital retailers that have recently gone public including Poshmark Inc. and Wish app parent ContextLogic Inc. (WISH). COVID-19 has accelerated e-commerce adoption, driving digital sales across the retail sector. Resale has also gained in popularity, particularly among younger shoppers, as climate change and other environmental concerns grow. The Renaissance IPO ETF (IPO) has more than doubled, up 113.6%, over the past year while the S&P 500 index is up 16.4% and the Dow Jones Industrial Average has gained 6.7% for the period.
-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 27, 2021 14:34 ET (19:34 GMT)
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