It’s a risk, but it’s an easy process to order a bag and mail it back. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Read our Advertiser Disclosure. This is what their payout structure looks like: This tool was actually really handy because it gives you an idea of whether it’s even worth putting that item in the bag. The “any item” promos instantly save you money after scanning your grocery receipt. After all, the processing time takes up to five weeks!

Personal Capital: Sign up and use their net worth calculator for FREE. I have emailed them 3 times and still haven’t heard back from anyone. In short, you have to pay thredUP to process your clothing and pay you. Thredup.com Has A Globle Traffic Rank #16,394 And Its Google PageRank Is 0/10 It Has 13,302 Backlinks.

Now that Reinhart has mastered his startup's pitch, he has some advice for other founders who are struggling to raise rounds from investors: "Talk about how the world looks like today, and about what can make it ten times better," he says. In 2010, Reinhart met with Trinity Ventures. (We’ll get to that in a minute!). This is the envelope that contains the Clean Out Bag. Comments. Many of the complaints seem to stem from the fact that an item they sold was sold on the site for 10 times the amount. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider The clothing that’s rejected can be donated or you can opt to have them send it back to you. If the fabric has stretched out and lost shape. Create three piles and sort out your items according to: When you’re in the sorting stage, be sure to note the condition of the items as well. Your morning cheat sheet to get you caught up on what you need to know in tech. Do you care believe the items you have are worth more than what you can probably earn from thredUP? She worked previously as head of content and chief editor for FinTech companies in New York City and San Francisco. It’s one of the downfalls of trying to sell something that’s very trendy.

The way I view thredUP is for anyone who wants to get rid of their unworn clothing through the mail.

Despite the constant rejection, Reinhart had conviction in what he was building and financed ThredUp himself. Here’s a quick checklist to help you determine whether it would be worth your time to use thredUP. I am so disappointed. Overall, I was pretty happy with my experience using thredUP. The partner finally told Reinhart what he'd been longing to hear: "I totally understand how ThredUp works.".

thredUP breaks down their brands into certain categories, including top brands, designer, and premium.

Here are some low-end brand names they accept: Remember, thredUP is buying from you in the hopes of selling, so if it’s old and in poor condition, they won’t take it. After polling friends, he realized about 70% of closets are made up of unworn clothing people would happily get rid of. I should have done my research. You must select this option before you send in your bag. The partner finally told Reinhart what he'd been longing to hear: "I totally understand how ThredUp works. So once you’ve made your three piles, look out for the following brands: In my experience, brand name clothing that almost always gets accepted from consignment shops like Buffalo Exchange and Crossroads Trading include the following. When James Reinhart initially pitched his company ThredUp to venture capitalists, he was rejected 27 times. I went on thredUP and ordered the Clean Out Bag.

"Often the number one reason why companies are successful at raising money is they find their right investor," Reinhart tells Business Insider. My Experience with thredUP. They accept 35,000 brands and just like consignments shops and customers who shop on eBay and Poshmark, designer goods are usually worth more.

My favorite place to sell is on Poshmark because it’s mostly app-based, so you can post and sell your stuff directly from your phone.

You can then transfer it to your checking account. Even if you fill up the entire bag, thredUP will only accept 40 percent of your items. Sounds odd, but the pros are that you have the chance to earn some money on the gently worn designer items in your closet.

ThredUp Reinhart tells Bloomberg Business' Kim Bhasin that venture capitalists actually laughed or fell asleep at the table while he pitched them ThredUp. Fast-forward to 2015; Reinhart seems to have no problem raising money. If you pay $10.99, you can expedite your bag to be processed within a week. If you have a lot of items you need to get rid of, my advice is to stay as organized as possible so you don’t get overwhelmed. After polling friends, he realized about 70% of closets are made up of unworn clothing people would happily get rid of. This fee will be deducted from your payout. In other words, if it’s mid-August, put in fall items as well. After you log into PayPal, you should see the money sitting in there. It doesn’t necessarily matter if your items still have tags on them or are in really good condition — if it is a lower end item such as Old Navy or Target, you probably won’t get much for them.
thredUP is essentially an online consignment shop. He wondered what percent of his clothing was actually worn, and what percentage was just sitting there. Even if it has a designer label but it’s not in good shape, it’s better to donate it.

All my clothes were STOLEN. In order to actually receive the money in your bank account from thredUP involves a few steps.

ThredUP makes donating and upcycling clothes as easy as possible. I wrote a review about Poshmark that explains how to use it and what to expect. He made it ThredUp's mission to manage that 70% of wasted closet real-estate. There are a number of ways you can receive payment from thredUP. In addition, you could always send them a message or comment on one of their Facebook posts. San Francisco, CA 94104 If you have a lot of older, out-of-date, or well-worn items, those are best left for donation.
The nature of this timing is that we have to spend a lot of money upfront (item costs + labor) in order to make the wide selection of products we have available.”. Reinhart came up with the idea for ThredUp when he was a college student who was frustrated with his own wardrobe. ThredUp solved a problem many people have: overflowing closets full of unworn items. I received no payout. since. This year, ThredUp raised an $81 million round of financing led by Goldman Sachs, bringing its total amount raised to more than $131 million. I had a positive experience using thredUP, but that’s because I knew what to expect and wasn’t surprised or insulted when I only made $15 from my items. I mailed it in and about a month later, I received a whole $15 on the items I sold. Clothing that has any of the following should be tossed in your donate bag: While it’s tempting to just throw everything you don’t wear anymore into the Clean Out Bag, take your time and be mindful of your items. In 2010, Reinhart met with Trinity Ventures. He remembers them staring at their Blackberries, waiting for the meetings to be over. I had a positive experience using thredUP, but that’s because I knew what to expect and wasn’t surprised or insulted when I only made $15 from my items. I’ve tried to find a way to call them, not having any luck. thredUP, Inc. provides children's clothing exchange and recycling services. Unless your low-end brand name items are in mint condition, I’d recommend throwing them in the donate pile. thredUP makes it very clear on their site that merchandisers looking through your items will scrutinize everything and will catch the tiniest flaw.

He made it ThredUp's mission to manage that 70% of wasted closet real-estate. You need to understand that thredUP is a business. thredUP might also be great for you if you don’t happen to live near a Salvation Army or Goodwill and think it might be worth a try to make a few extra bucks by mailing your clothes in. Part of what Reinhart thinks helped ThredUp grow during those initial rough years was his easy-to-grasp business concept. This year I made a conscious effort to live with only what I need and let go of what I no longer used. The way it works is to first request a Clean Out Bag from their site. You can choose to have your items returned to you for $10.99 or have thredUP recycle them. Consignment stores care a lot about designer clothes, and thredUP is no different. If you haven’t already contacted them about the issue, I encourage you to do so. And after endlessly pitching his digital consignment shop to investors, Reinhart finally got others to buy what he was selling. But the Harvard Business School graduate says he wasn't deterred. ThredUp is a startup that lets customers sell clothes in their closets to others, but in 2008 when the company first started, the idea was different. You’ll see the LUXE-brand payout percentage on the very right column. ". I went on thredUP and ordered the Clean Out Bag.

If this is the case, consider selling them individually on eBay or Poshmark. I appreciate you sharing it here and hope you have better luck the next time you try to sell clothing. It arrived about a week and a half later.

I sent 3 bags , many designer clothing. Claire Tak is a writer, content creator and strategist.

You’ll have to take photos, write a description, measure the items, and then answer customer questions. James Reinhart, co-founder and CEO of thredUP. Get familiar with their popular brands and what style of clothing they sell. Her work has appeared on FOX Business, Bloomberg, and Forbes. I have not heard a word from them, and I know it has been 4 weeks. You can also schedule a pickup for your bag from USPS if you want to save yourself a trip to the post office. For example, a Lululemon dress would earn you roughly $9 to $12. They are a free financial service platform that helps you analyze your portfolio, retirement, and financial health all on one simple & secure account . They accept clothing for both women and children. Here are a few tips to help you: If you send in your bag at the tail end of a season, consider adding items that are appropriate for next season too. First, you need to log into your thredUP account. If you don’t have too many popular brand names or designer names in your closet but want to make more than a few bucks, you might be better off selling on eBay or Poshmark. so customers of the retail giant can trade gently-used clothing for store credit. From there you will see your cashout balance and have the option to transfer it to your PayPal. I used it mostly out of convenience and because I like the idea of consignment and recycling your clothes. Michelle, I am experiencing the same situation with Threadup.


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