Received $1.6M Seed Funding
Participation First Round Capital, Baseline Ventures, Forerunner Ventures, Andreessen Horowitz
When it's all about splashy big-budget runway shows what's an app maker to do? With all eyes soon to be on New York Fashion Week, digital style start-ups have been scrambling for ways to get involved. Problem is they don't have the cash or the clout to compete with big brands for attention. Here's how seven start-ups are nimbly getting in on the action.
Clothing swap in online form Threadflip has just closed its $6.5M Series A round. The financing was set at around a $20-25 million post-money valuation according to a source. And it was led by Shasta Ventures with participation from Lowercase Capital and follow on from First Round Capital and Baseline Ventures. Existing investors include Slow Ventures, Forerunner Ventures, Greylock Discovery Fund and Andreessen Horowitz Seed Fund. In addition to the funding, Threadflip is launching its iOS app today, which allows users to buy items as well as view new items posted, check out which items are trending and which items are still in their closet. The asap move to iOS is crucial, as competitors like Poshmark have already spent many months on mobile.
Received $6.5M Series A Funding
Participation Shasta Ventures, Lowercase Capital, First Round Capital, Baseline Ventures, Slow Ventures, Forerunner Ventures, Greylock Partners, Andreessen Horowitz
There has to be something in the air: Just when I thought that I had enough distraction in my life, one more sweet clothing swap site launches, allowing me to focus on my hobby (fashion, and specifically upcycled fashion) while I'm supposed to be focusing on my work. In the same space as Poshmark, 99Dresses and Copius, Threadflip allows you to upload and sell items of clothing as well as buy others’ beloved, but for whatever reason unwanted, items of clothing.
Manik Singh never claimed to know much about fashion. What the Silicon Valley-based engineer did know was that his wife, Theresa, had a little closet problem-- that is, a collection of unworn items clogging up the racks. But when he asked her (and other female friends) why they held on to these garments, the answer he kept hearing was: "It's too hard to do anything else with them."
Lady magazines preach it all the time: Most of us wear 20% of the clothing we own 80% of the time. The reason we hold on to the stuff we never wear? It's too much of a pain to get rid of. Many donate old clothing to Goodwill (where it might end up disrupting the local textile economy in Africa). A subset of that group might host a clothing swap among friends. Fewer still haul regrettable splurges to a consignment shop, where they might get a tiny fraction of what they paid for that like-new pair of designer pumps.
Reselling clothes online sounds really great in theory. But the truth is that is takes an awful lot of work to photograph everything, upload, list and ship it. Starting today however, there's a service that seamlessly does the work for you: Threadflip.
Threadflip is a new marketplace coming out of private beta today that is making it insanely easy to sell used clothes, shoes, jewelry and other accessories online. The secret to the San Francisco company is that it handles all of the hard work for you. For example, once an item sells, Threadflip figures out the shipping costs, finds the correct box, and sends it to your door.