OFFICAL PRESS RELEASE 5/20/14

Tradesy Raises $13 Million to Help Consumers

Unlock the Value in their Closets

Round led by Kleiner Perkins Caufield & Byers and Sir Richard Branson;

John Doerr and Stephanie Tilenius join Board of Directors

Santa Monica, CA, May 20, 2014: Tradesy (www.Tradesy.com), the leading peer-to-peer marketplace for designer fashion, today announced that it has raised $13 million in Series B financing led by Kleiner Perkins Caufield & Byers (KPCB), with participation from Sir Richard Branson, Rincon Venture Partners, Bee Partners, Northgate Capital, and others. KPCB General Partner John Doerr and Stephanie Tilenius have joined Tradesy’s Board of Directors.

Tradesy will use the new funding to further propel its rapidly accelerating growth, scale its team, and invest in making customers happy as it expands its mission of making it easy to unlock the resale value of pre-owned designer products. Tradesy helps consumers get up to 50% more value for items already in their closet, and exchange them for new items through a “cyclical commerce” model, which is the practice of selling underutilized items in order to fund the purchase of new ones.

“Tradesy is highly disruptive, and empowering,” said Sir Richard Branson. “Tradesy lets you shop and save, simply, while promoting sustainability. Your closet becomes your own startup – and you become the entrepreneur.”

The increasingly rapid turnover of fashion trends and ubiquity of social networks are contributing to consumers’ desire to shop more frequently. Especially amongst Millennials, the frequent wardrobe updates associated with various stages of personal and professional development require affordable, temporal access to fashion, despite the fact that their income is often less than that of previous generations. Everyone has something unused or under-used sitting in their closet, and Tradesy makes it safe and simple to exchange these items for others by providing a high-touch re-commerce experience that eliminates the pain traditionally associated with online resale.

“The Tradesy marketplace is delighting a new generation of consumers by making it ridiculously easy to buy and sell possessions, and save money,” said John Doerr, General Partner of KPCB. “Tradesy’s ‘cloud closet’ enables a lightweight lifestyle that is a smart, new trend in the sharing economy.”

Tradesy connects sellers to like-minded buyers, provides packaging materials, recommends pricing, and handles returns. The platform’s proprietary curation and personalization algorithms help to efficiently connect supply with demand, and its growing collection of rare and vintage designer fashion makes it a destination for one-of-a-kind finds.

This approach has allowed Tradesy to establish itself as the leader in designer fashion resale in just 18 months. Today, Tradesy has 1.3 million members and the world’s largest selection of authenticated designer resale merchandise for women. Tradesy is growing sales at 35 percent month-over-month, with more than 50 percent of monthly sales coming from repeat buyers and repeat sellers.

“It’s very exciting to see our vision of cyclical commerce make our customers happy,” said Tradesy CEO and Founder, Tracy DiNunzio. “Eighty percent of the money that Tradesy members earn is used to finance another purchase in the same category, satisfying consumers’ desire to trade up via online resale. Tradesy is truly a win-win.”

ABOUT TRADESY

Tradesy is the leading peer-to-peer marketplace for fashion. The company’s unique marketplace technology platform automates everything from shipping and returns to the enhancement of user-generated content to the authentication of designer goods, removing the frictions previously associated with online resale. By focusing on customer experience and the mission of making it easy for anyone to access the resale value of the things they own, Tradesy has pioneered the emerging behavior of cyclical commerce and a lightweight lifestyle that's focused on experiencing rather than owning products and goods. For more information, visit www.tradesy.com. For press inquiries, please contact tradesy@moxiegrouppr.com.

ABOUT KLEINER PERKINS CAUFIELD & BYERS

Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, Netscape, and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design Tradesyand delivery, business development, strategic partnerships, and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai, and Beijing. For more information, visit www.kpcb.com and follow us @kpcb.

Investors & Advisors
Seed

Launchpad LA
Bee Partners
Dany Levy
Sam Teller

Series A

Rincon Venture Partners
Daher Capital
Bee Partners
500 Startups
Double M Partners
Miles Beckett
Sam Teller
Anthony Saleh

Series B

Kleiner Perkins Caufield & Byers
Sir Richard Branson
Rincon Venture Partners
Northgate Capital
Daher Capital
Bee Partners
Red Swan VC
Michael Marks
Anthony Saleh
Neil Mehta
Sam Teller
Double M Partners
Tim Ferriss
Jonathan Ehrlich
Stanford Engineering Venture Fund

Read More
Read Less
New York Times

Welcome to the collaborative economy. Spring cleaning has never been more profitable.

Good Morning America

Ebay and Amazon have a new neighbor

Time

Powered by video and fed by stars, a startup boom in west Los Angeles…

USA Today

I’m more confident that I’ll receive a quality product from Tradesy...

Women have all kinds of earning potential sitting right in their closet.

Tech Crunch

Tradesy addresses pain points that have previously kept women from engaging in online fashion resale.

Forbes

It turns women’s closets into currency

InStyle

Whether you’re looking to shop, sell, or simply swoon…

Refinery 29

List your first item in about 60 seconds

Univision

Los articulos en tu closet se puede convertir en dinero

The Next Web

The Zappos of resale

Marie Claire

Easily and efficiently sells designer clothing straight from women's closets

D'Andhra Bascomb

@Xpressiories

Seriously shocked. Just sold my Alexander Wangs for $300. @tradesy you have officially rocked my world!

Avatar

Kristamas

@KCinspireME

So, I decided ebay is so last year. I am loving my new fave resale site, tradesy!

Avatar

Leighanna Hornick

@LEEighanna

Don't know how, but I sold not one, not two, not three, not four, not five, not six, not seven, but EIGHT items in one day on @tradesy

Avatar

Beth Carlson

@bethymcar

I need to stop telling ppl about @tradesy I told 5 gals yesterday alone, they weren't my size though ;)

Avatar

HangTightwMarC

@HangTightwMarC

tradesy my new favorite website Hello @tradesy by by @amazon :)

Avatar

Jess Zering

@JessZering

Every girl should have the Tradesy app

Avatar

maddalena

@lilmadd_doe

if you love designer fashion but hate spending all your money on just a few things check out tradesy I swear it just changed my life gnight

Avatar

Amanda

@mandymay0519

I am now addicted to @tradesy thanks to @rogerskels #shopping #love