Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for apparel, shoes and accessories. ThredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. Read thredUP's LTSE policies here, and learn how they're helping their people, communities, and the planet in their Impact Report. The dual listing demonstrates how thredUP is reframing capitalism through an impact lens, which is a key tenet of thredUP's business strategy and core to thredUP's mission to inspire a new generation of consumers to think secondhand first. ThredUP and LTSE are pioneering the next generation of capitalism where traditional measures of financial performance and generating long-term sustainable value are integrated. "By dual listing on LTSE, we are codifying the critical relationship between thredUP and our long-term stakeholders and ensuring our success is their success." Companies have punted too many promises to their stakeholders on the environment, social causes and who they are building for," said James Reinhart, founder and CEO of thredUP. By listing on LTSE, thredUP is affirming its strategic alignment with long-term shareholders, employees, customers, and communities within a public market designed to promote sustainability, resilience, and long-term value creation. LTSE's principles-based listing standards require listed companies to detail and publish policies on their website that offer stakeholders insight into how a company builds its business for the long term. "It is not enough to make pledges to your stakeholders it is time for binding commitments the public can believe." "With this listing, thredUP threw down the gauntlet for all consumer companies," said Eric Ries, founder and chairman of LTSE. They are one of two companies listed on the platform, alongside Asana (NYSE, LTSE: ASAN). thredUP is the first consumer company to list on the LTSE, committing to the higher standards of the exchange. OAKLAND, Calif., /PRNewswire/ - thredUP, the largest online resale platform for apparel, shoes, and accessories, today announced that it has dual listed its Class A common stock on the Long-Term Stock Exchange (LTSE), a subsidiary of LTSE Group.
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