Threadflip Raises $1.6 Million In Funding

Sites include Threadflip.com . Published on May 4th, 2012. Written by Anthony West.

If you have any items of unwanted clothing lying around you may have a market and a platform for selling them. Enter Threadflip, a start-up which enters the space similar to sites like 99dresses.com and Copius both of whom have been making strides in the space.

Threadflip focuses on the higher end market for clothing even goes as far as jewellery, handbags and other accessories. This mix of offerings means that people can get anything from a Gucci sandal to a Prada handbag. Threadflip is also getting lots of attention from venture capitalists, and recently raised $1.6 million. The round was led by First Round Capital and Baseline Ventures. Joining them was Dave Morin, Forerunner Ventures, Greylock Discovery and Andreessen Horowitz.

Threadflip’s co-founder Manik Singh is very excited about the prospects for the company. Said Singh recently:  “It’s been exciting to see a growing zeitgeist around online resale offerings, Some of the key aspects of Threadflip that we’re really excited about are our seamless end-to-end shipping solution (which means you can ship from the comfort of your home), the White-Glove Service (minimal effort/maximal value) and deep integration with FB, which brings a level of ease, transparency and authenticity to the entire buying and selling experience.”

Certainly the rise in what is being called the Person2Person (P2P) marketplace is a big opportunity. As more and more people cut back and look for ways of maximizing returns from what they own, platforms like Threadflip stand to make lots of money.