ThredUp Completes Divestiture of European Business [Yahoo! Finance]
ThredUp Inc. - Class A (TDUP)
Company Research
Source: Yahoo! Finance
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 continues its fundraising process independently. This strategic transaction allows both ThredUp and Remix to focus on their respective core markets and strengths. "This is a mutually beneficial outcome for both ThredUp and Remix," said ThredUp Co-Founder and CEO James Reinhart. "We are confident that Remix will thrive under Florin Filote's leadership and the team's expertise. This transaction will allow ThredUp to focus on our core U.S. business and continue to innovate and evolve our marketplace." "We are exc
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TDUP
News
- Last Minute Sustainable Gifts For The Holidays [Forbes]Forbes
- ThredUp exits Europe with Remix sale to focus on core US market [Yahoo! Finance]Yahoo! Finance
- ThredUp Signs Binding Contract to Divest European Business [Yahoo! Finance]Yahoo! Finance
- ThredUp fashion marketplace offloads its European business, Remix [TechCrunch]TechCrunch
- ThredUp Completes Divestiture of European BusinessBusiness Wire
TDUP
Earnings
- 11/4/24 - Miss
TDUP
Sec Filings
- 1/2/25 - Form 4
- 12/16/24 - Form 4
- 12/11/24 - Form 4
- TDUP's page on the SEC website