Twice Raises $4M From IA, Felicis, Lerer, SV, CrunchFund, High Line, and Angel Investors
Twice is a online women’s secondhand clothing company. The company has raised $4 million from several investors including IA Ventures, Felicis Ventures, Lerer Ventures, SV Angel, CrunchFund, High Line Venture Partners, Alex Rampell (Trialpay CEO), Elad Gil (Former Twitter VP), Jack Abraham (Milo CEO), John Maloney (Former Tumblr President), and Maria Thomas (Former Etsy CEO).
Twice competes with Threadflip, but is different from them because they are focused on a concierge-style marketplace. Twice sellers are able to send their clothing to the startup and the company pays for the shipping. The sellers will get a check about one week later. The items are evaluated by a professional buyer and is professionally photographed.
Twice has around 8,500 items while Threadflip has around 200-300 “White Glove” items. Twice buyers can browse by item category and lets them order with free same day shipping for items that are over $49. Otherwise shipping is $5 and returns within 30 days are free.
Twice was started by former Google employees Calvin Young and Noah Ready-Campbell. Twice plans on using the funding to hire additional employees and expand its products to handbags, shoes, and men’s / children’s apparel.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry