The RealReal announced today that is has raised another 40M bringing their total raised up to 123m.
From Jason Del Ray at Re/Code:
The RealReal, a shopping site that sells second-hand designer fashion, has raised $40 million in a new investment, pushing total money raised to $123 million since it launched five years ago.
Founder and CEO Julie Wainwright declined to comment on the company’s valuation, other than to say it wasn’t lower than it was during the last investment round and that it didn’t contain “structure” or uncommon, unfavorable terms. She added that the company originally planned to wait until 2017 to raise what she says will be its final investment as a private company ahead of an eventual IPO. But uncertainty in the private-company investment market led her to take the money now.
“You have a fear that the money will dry up,” she said, “and I might have more fear than others because I’ve been through it before.”
Click here to read the whole story on Re/Code.
My thought on this is there are many big players in this space that are growing at a rapid pace giving The RealReal a run for their money (pun intended). They needed to take this round of funding because I can guarantee that this landscape is going to change drastically over the next six months to a year which in turn, will see some of the smaller designer resale companies grow big enough to be a formidable opponent to their business.