Recode is reporting that Tradesy has taken in another 30 million in funding this past week and an excerpt from the article is below.
It’s funny how they’re stating that there are three major players in this space, Tradesy, Poshmark and The RealReal when the only two that are marketplaces are Tradesy and Poshmark. It will be interesting to see what they do with this money, but what I’m hearing is that they’re trying to figure out how to help sellers find the names of designer handbags. Say your listing a Louis Vuitton tote which is fine but if you don’t know the exact name of the bag, when someone searches up tote, hundreds of different bags come up. Now, if you were to search Louis Vuitton Neverfull MM, the results returned would only be any Louis Vuitton Neverfull MM’s for sale. Personally, I don’t see why they just don’t create their own database. It may take a few months or so to list every designer bag out there but it would be worth it.
Tradesy, a shopping website that sells second-hand designer fashion clothing, has raised another $30 million investment, as the remaining startups in this e-commerce niche ready themselves for a make-or-break year.
Wildcat Capital Management, the family investment firm of billionaire investor David Bonderman, came in as a new backer in the round. Past investors including Kleiner Perkins Caulfield & Byers and Rincon Venture Partners also participated. Tradesy, which is based in Santa Monica, Calif., has now secured nearly $75 million in funding since launching in 2012.
Tradesy and competitors The RealReal and Poshmark have each raised $25 million or more in the last few months to try to help them break away from the pack. All three operate websites and apps that sell lightly used clothing from brands like Tory Burch and Louis Vuitton, as they try to carve out a piece of eBay’s business. And all three are in a land grab to attract more consumers to buy and sell on their sites, as shoppers typically end up flocking to sites with the most selection.
“I still think it’s winner-take-all and we’re still pushing to be the winner,” CEO Tracy DiNunzio said in an interview. “But whether winner-takes-all means everyone else dies, I don’t know.” Read more……