We ingest and calibrate multiple data points including the advertising unit viewed by the potential buyer, sign-on method, search or filter keywords and add-to-cart behavior, amongst others, to predict the quality of this potential buyer and the expected lifetime value and payback on marketing over time. We also use browsing and engagement data in our models that help us estimate (i) the future value of a potential buyer in terms of potential contribution profit for their first order and (ii) the future value of an existing buyer in terms of potential contribution profit for the next twelve months. In practice, that means our data pipelines have been built to help our teams identify which advertising activities are performing, and to calibrate our marketing spend across channels and campaigns to drive return on investment. We have built proprietary in-house software, managed by our marketing automation team, to deliver compelling, scalable buyer acquisition results. We believe RaaS will accelerate the growth of this emerging category and form the backbone of the modern resale experience. A number of the world’s leading brands and retailers are already taking advantage of our Resale-as-a-Service, or RaaS, offering. In 2018, based on our success with consumers directly, we extended our platform to enable brands and retailers to participate in the resale economy. We take it from there and do the work to make those items available for resale. Sellers order a Clean Out Kit, fill it and return it to us using our prepaid label. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. The marketplace we have built enables buyers to browse and purchase resale items for women’s and kids’ apparel, shoes and accessories across a wide range of price points. ThredUP’s proprietary operating platform is the foundation for our managed marketplace, where we have bridged online and offline technology to make the buying and selling of tens of millions of unique items easy and fun. The traditional fashion industry is one of the most environmentally damaging sectors in the global economy and we believe our scalable resale business model is a powerful solution to the fashion industry’s wastefulness. 2 We estimate that we have positively impacted the environment by saving 1.0 billion pounds of CO 2 emissions, 2.0 billion kWh of energy and 4.4 billion gallons of water simply by empowering consumers to buy and sell secondhand. Since our founding in 2009, we have processed over 100 million unique secondhand items from 35,000 brands across 100 categories, saving our buyers an estimated $3.3 billion off estimated retail price. thredUP’s platform consists of distributed processing infrastructure, proprietary software and systems and data science expertise. As of December 31, 2020, we had 1.24 million Active Buyers and 428,000 Active Sellers. 1 Our custom-built operating platform is powering the rapidly emerging resale economy, the fastest growing sector in retail, according to the GlobalData Market Survey. ThredUP is one of the world’s largest online resale platforms for women’s and kids’ apparel, shoes and accessories.
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