ThredUp overhauls resale service, slashes fees
Listen to the article
3 min
This audio is auto-generated. Please let us know if you have feedback.
With an open-source approach to tech, ThredUp is overhauling its resale-as-a-service offering with new features and a new fee structure, the recommerce platform announced last week.
With the update, upfront and monthly fees for branded resale shops on ThredUp have been eliminated entirely, and the company is lowering the usage-based fees for its closet Clean Out and customer cash out programs. The resale company is also giving brands access to its cleaning and repair partners, connecting them with end-of-life service providers and integrating returns more deeply into branded shops.
ThredUp will launch a peer-to-peer resale platform by the end of the year and now also allows brands to list menswear on their resale shops. The changes came as ThredUp reported a 10% jump in Q1 revenue , to $71.3 million. Active buyers grew 6% and net loss narrowed to $5.2 million, per a press release.
Describing its enhanced brand resale service as a 'universal recommerce layer,' ThredUp envisions that it could change the way brands sell used items, much like Amazon Web Services reshaped cloud services or Shopify changed e-commerce for small businesses, the company said in a statement.
' ThredUp has decided to take an open-source approach and make our RaaS software layer available to our partners for free, knowing that their ability to launch scalable and profitable resale channels will serve our strategic goals for this sector in the long run,' ThredUp CEO James Reinhart said in a LinkedIn post .
'We believe the future of retail is circular, so we're lowering the barriers for brands to not just participate, but to lead. This strategic evolution of RaaS will fundamentally change how apparel and accessory companies build truly impactful circular programs,' Reinhart said.
ThredUp is also touting the offering as a potential tariff defense, giving brands a supplemental revenue stream that relies on domestic goods. As trade policy continues to shift, ThredUp in a recent report forecast an increase in demand for secondhand goods and growing interest among executives in using resale to their advantage.
As it revamps its retail-as-a-service offering, ThredUp remains optimistic about the near future. For both the second quarter and the year, the company anticipates revenue will grow 10% at the midpoint, reaching between $281 million and $291 million for fiscal 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 hours ago
- Yahoo
LinkedIn CEO says AI writing assistant is not as popular as expected
While LinkedIn users seem to have embraced AI, there's one area that's seen less uptake than expected, according to CEO Ryan Roslansky: AI-generated suggestions for polishing your LinkedIn posts. 'It's not as popular as I thought it would be, quite frankly,' Roslansky told Bloomberg. When asked why, he argued that the 'barrier is much higher' to posting on LinkedIn, because 'this is your resume online.' Plus, users can face real backlash if they post something that's too obviously generated by AI. 'If you're getting called out on X or TikTok, that's one thing,' he added. 'But when you're getting called out on LinkedIn, it really impacts your ability to create economic opportunity for yourself.' At the same time, Roslansky noted that the professional social network has seen a 6x increase in jobs requiring AI-related skills over the past year, while the number of users adding AI skills to their profiles is up 20x. And he said he uses AI himself when he talks to his boss, Microsoft CEO Satya Nadella: 'Every time, before I send him an email, I hit the Copilot button to make sure that I sound Satya-smart.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
4 hours ago
- TechCrunch
LinkedIn CEO says AI writing assistant is not as popular as expected
In Brief While LinkedIn users seem to have embraced AI, there's one area that's seen less uptake than expected, according to CEO Ryan Roslansky: AI-generated suggestions for polishing your LinkedIn posts. 'It's not as popular as I thought it would be, quite frankly,' Roslansky told Bloomberg. When asked why, he argued that the 'barrier is much higher' to posting on LinkedIn, because 'this is your resume online.' Plus, users can face real backlash if they post something that's too obviously generated by AI. 'If you're getting called out on X or TikTok, that's one thing,' he added. 'But when you're getting called out on LinkedIn, it really impacts your ability to create economic opportunity for yourself.' At the same time, Roslansky noted that the professional social network has seen a 6x increase in jobs requiring AI-related skills over the past year, while the number of users adding AI skills to their profiles is up 20x. And he said he uses AI himself when he talks to his boss, Microsoft CEO Satya Nadella: 'Every time, before I send him an email, I hit the Copilot button to make sure that I sound Satya-smart.'
CNBC
4 hours ago
- CNBC
How a 'brag doc' can help you ace interviews and land a job, says recruiter: ‘No one's reading cover letters'
One of the best pieces of advice Maddie Machado received from a former boss at Microsoft was to keep track of all her career wins. Machado would log "anytime I did a good job, anytime I made someone's life easier, anytime I got kudos" first in a Microsoft document, then a running email draft and now in a slide presentation. She calls it a "brag doc" and says she's used it in every interview for the last 10 years. Machado, 35, is a reverse recruiter and founder of SkillScript, a resume platform, in Tampa, Fla. The concept of documenting your career wins isn't new, but her method categorizes four specific aspects of your professional success: Machado says having a brag doc on hand can help you network and could make a bigger impact than a traditional resume or cover letter. "No one's reading cover letters," Machado says. "Even when I was a recruiter for so many years, I can count on maybe one hand how many times I actually read a cover letter." A brag doc, meanwhile, is "a time for you to toot your own horn," Machado says. "It's hard to see on your resume the amount of impact and the things that you actually owned and are actually proud of." It also shows off the most important aspects of a candidate a hiring manager wants to know, Machado says, based on her time working with hiring managers at companies like Meta and LinkedIn. Hiring managers will generally already know what you do day-to-day in your role, Machado says, but are looking for what you'll bring to a new company and things that will make them think, "Wow, look at what she did there. Imagine what she could do here," she says. "And that's what your brag doc is doing." A brag doc is a useful resource to attach to your application, to follow up with a hiring manager on LinkedIn after you've applied for a role, or even to cold-message someone to network, Machado says. It won't necessarily get you the job right away, but it could get you in the hiring pipeline that much faster. Then, use it to prepare for interviews and negotiate a strong offer, Machado says. "It's nice to be able to remind yourself what you've accomplished so far, whether it's big or small, and also be able to share with other people," she says.
