ThredUp Inc (NASDAQ: TDUP) is an online resale marketplace company that operates managed-marketplace platforms for buying and selling secondhand clothing and apparel. Revenue is generated transactionally through its U.S. marketplaces, where ThredUp takes a cut of each sale, and through Resale-as-a-Service (RaaS) offerings that power secondhand programs for third-party retail clients. ThredUp competes with traditional brick-and-mortar thrift stores and other online secondary marketplaces for both buyer and seller volume. The company operates its own distribution centers, where inbound items are processed, itemized, priced using proprietary algorithms and third-party machine learning software, and listed for sale. ThredUp divested 91% of its European business and Bulgarian subsidiary, Remix, on November 30, 2024, and results from that point forward reflect U.S. continuing operations only. Class A common stock has traded on the Nasdaq Global Select Market under the ticker TDUP since March 26, 2021. The company has never paid a cash dividend and retains earnings for business development.

Revenue model

Transactional revenue from secondhand apparel sales across its owned marketplaces, plus fees from RaaS client programs that embed ThredUp's resale infrastructure into third-party retailer offerings. Cost of revenue primarily includes outbound shipping, outbound labor, and packaging costs.

Products and services

Online secondhand apparel marketplace (ThredUp platform); Resale-as-a-Service (RaaS) white-label resale programs for retail clients; proprietary pricing algorithms and automation technology used in distribution center operations.

Customers and end markets

Individual buyers purchasing secondhand apparel online; individual sellers consigning used clothing; third-party retail brands and retailers as RaaS clients. Active Buyers are defined as buyers who made at least one purchase in the prior twelve months, tracked by unique email address, and are a key revenue driver per the FY2025 10-K filing.

Value-chain role

Vertically integrated managed marketplace: ThredUp physically receives, processes, prices, lists, and ships secondhand inventory through its own distribution centers, acting as both marketplace operator and fulfillment intermediary rather than a pure peer-to-peer platform.

Geographic exposure

United States (continuing operations as of FY2024). European operations via subsidiary Remix were divested at 91% on November 30, 2024, and are reported as discontinued operations.

Competitors

Traditional brick-and-mortar thrift stores, Other online secondary marketplaces

Source: SEC 10-K, filed 2026-03-02

Industry: Retail-Catalog & Mail-Order Houses Peers: Amazon.com Inc 1stdibs.Com Inc AKA Brands Holding Corp Quotient Technology Inc. Duluth Holdings Inc Groupon Inc Lands' End Inc Lulu's Fashion Lounge Holdings Inc Porch Group Inc