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ThredUp plans to go public in 2021

Online marketplace ThredUp plans to file for an IPO sometime next year, according to sources. Yahoo Finance’s On The Move panel share the details.

Video Transcript

ADAM SHAPIRO: "Second Hand Rose" used to live on Second Avenue, but now she's heading down to Wall Street. ThredUp, also possibly an IPO. Julie, you've got more on this?

JULIE HYMAN: Yes, ThredUp is one of these online secondhand clothing marketplaces. It has some competitors in The RealReal, which is publicly traded, and Poshmark. But those are sort of higher end.

What differentiates ThredUp is it is sort of mid to lower range in terms of the cost of its items. And it also is unique in that it has a partnership with Walmart to sell secondhand women's and children's clothing through the Walmart website. So, again here, it has some unique kinds of distinctions, if you will.

It looks like it's going to happen early next year, an IPO for this one. At least that's according to Bloomberg News, which is making that report today. And it could raise $200 to $300 million in that IPO.

The company did raise $175 million last year from new and existing investors. So its current valuation, or at least at that time, was about $670 million. That's according to PitchBook.

So we'll see how that one goes as well, if and when that comes to market. RealReal hasn't done so well this year. Those shares, I think, are down about 5% to 6%, Adam.