ThredUp (TDUP) Completes Divestiture of European Business

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Go back to ThredUp (TDUP) Completes Divestiture of European Business

ThredUp Completes Divestiture of European Business

December 3, 2024 9:00 AM EST

OAKLAND, Calif.--(BUSINESS WIRE)-- ThredUp Inc. (Nasdaq: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, announced today that it entered into a binding agreement to divest its European business, Remix, in a management buyout led by Florin Filote, the General Manager of Remix. The divestiture closed simultaneously with the signing of the agreement. ThredUp retains a minority interest in the Remix business and prior to the closing of the transaction, Remix received a final cash investment of $2 million from ThredUp to help fund operations as Remix... More