Fashion start-up Threadflip has launched securing $1.6 million seed funding led by First Round Capital and Baseline Ventures. Additional investors in the round include Dave Morin from Slow Ventures, Forerunner Ventures, Greylock Discovery Fund and Andreessen Horowitz Seed Fund. Kent Goldman from First Round Capital joins the company’s board of directors.
Threadflip launches today, providing a new way to discover, buy and sell fashion. Inspired by the reality that there comes a time when even your most beloved fashion favorite is better served spicing up someone else’s closet, Threadflip enables you to easily recoup some of your investment and make room for new finds. In turn, Threadflip shoppers enjoy access to fashionable closets featuring designer apparel (from Paul Smith to Prada, vintage to Vuitton and everything in between) at a fraction of the original price.
In conjunction with the launch, the company announces a $1.6M seed round led by First Round Capital and Baseline Ventures. Additional participants in the round include Dave Morin from Slow Ventures, Forerunner Ventures, Greylock Discovery Fund and Andreessen Horowitz Seed Fund. Kent Goldman from First Round Capital joins the company’s board of directors.
“Threadflip provides a smart and streamlined way for consumers to discover, sell and purchase online,” said Manik Singh, CEO, Threadflip. “Too many closets are packed with barely or never-worn items, some with tags still on. With Threadflip’s seamless end-to-end experience, easy shipping and White Glove Service, we’ve removed all barriers to buying and selling online, making it simple to hit the refresh button on your wardrobe.”
With a few clicks, users can upload images of pieces straight from their closets and sell clothing, shoes, bags and jewelry, creating a vast marketplace of thousands of new pieces every day. And if you are too busy to upload and sell on your own, the company is launching a White Glove Service. This service will offer an end-to-end solution, enabling women to send in their clothing and have Threadflip take care of the rest.
Threadflip Tastemaker Spotlights – Straight From the Closets of Style Icons
Threadflip Tastemaker Spotlights provide exclusive access to one-of-a-kind items from the personal collections of tastemakers. For launch, Threadflip showcases the incomparable style of four fashion arbiters — Tennessee Thomas, drummer for The Like, fashion assistant and street style star Preetma Singh, Late Afternoon blogger Liz Cherkasova and Laura Ellner of On the Racks. These Threadflip Tastemakers offer up pieces straight from their own closets and highlight top picks from the site.
“As a fashion industry insider, personal closets are the final frontier for style discovery and shopping,” said Jennie Lodge, Threadflip brand manager. “Just getting up-close and personal with a favorite style star’s pieces is a thrill and knowing that they’re yours for the taking, (or at least buying), is a dream.”
Threadflip Delivers a Delightful Shopping Experience
Seamless Shipping Threadflip offers a seamless end-to-end shipping solution. As soon as your item sells, Threadflip sends you a prepaid shipping care package, including an addressed pre-paid shipping label and wrapping materials — everything you need to quickly and easily ship, without leaving the house.
White-Glove Service Too busy to upload and sell your items? Let Threadflip help you market your closet, maximize its value and save precious time and effort. Just send us your items and our stylists will take care of the rest — from styling photos to researching pricing and merchandising your items.
Your Closet Goes Social Via Facebook, Threadflip offers a fun and inspiring shopping experience. Users can easily find friends’ closets, discover new style inspiration and search by style, designer and category. And every time you use Threadflip, the site understands more about who you are and what you like — so, over time, you’ll enjoy a highly-curated experience based on your specific interests, affinities, connections and taste.
“Our investment in Threadflip underscores our interest in disruptive commerce,” said First Round Capital’s Kent Goldman. “The Threadflip team has created a social shopping experience that uses personal relationships to make it easy to discover unique products. We see a large and dedicated community building around Threadflip.”
About Threadflip Founded in 2011, Threadflip is a community marketplace for buying and selling apparel and accessories. Threadflip was created by a team with deep social commerce, technology and fashion experience. The company’s $1.6 million seed round was led by First Round Capital and Baseline Ventures. Additional participants in the round include Dave Morin from Slow Ventures, Forerunner Ventures, Greylock Discovery Fund and Andreessen Horowitz Seed Fund. For more information, please visit: www.threadflip.com .
About First Round Capital First Round Capital is a seed-stage venture capital firm dedicated to helping talented entrepreneurs build great companies. As seed-stage investors, we often provide a company’s first outside capital — and are not afraid of funding pre-revenue companies. First Round Capital’s portfolio is a community of web-enabled businesses led by entrepreneurs, guided by an active partnership and connected through a technology platform designed to support companies throughout their growth. The firm’s current portfolio includes companies like Path, StumbleUpon, One Kings Lane, Fab, Modcloth, RockMelt, Uber and Square. First Round Capital invests nationally with offices in San Francisco, New York and Philadelphia.
About Baseline Ventures Baseline Ventures is a seed-stage capital firm founded by Steve Anderson in late 2006. Bringing his diverse experience from eBay, Microsoft, Kleiner Perkins, Starbucks and Digital Equipment Corporation, Steve founded Baseline in order to help entrepreneurs build and grow their ideas into companies.
Since its inception, Baseline is proud to have backed over 60 founding teams in promising software and web companies including Instagram (acquired by Facebook), Twitter, Weebly, Formspring, Heroku (acquired by Saleforce.com), CoTweet (acquired by ExactTarget), GeoAPI (acquired by Twitter), IndexTank (acquired by LinkedIn), Rupture (acquired by EA), Sendori (acquired by Ask.com), Parakey (acquired by Facebook), Versly (acquired by Cisco), Aardvark and DocVerse (both acquired by Google) and Hunch (acquired by eBay).