[NEWS] Luxury consignment e-tailer The RealReal to enter the unicorn club with new funding – Loganspace

The RealReal, an on-line retailer for authenticated luxurious consignment, has licensed the sale of as a lot as $70 million in contemporary shares, per a Delaware stock authorization filing learned by theHigh Unicorn Index. If the firm raises your complete quantity, it would reach a valuation of $1.06 billion, cementing its website because the latest e-commerce unicorn.

The filing doesn’t yelp The RealReal will sell the corpulent quantity of licensed shares. The firm declined to commentary on its fundraising plans.

The RealReal is led by founder and chief govt officerJulie Wainwright(pictured), the light CEO ofPets.com,a firm now synonymous with the dot-com bust. It has raised quite a shrimp of capital to this level — a filled with $288 million from challenge capital and non-public equity backers, in conjunction with Giant Hill Companions, Sandbridge Capital, PWP Progress Fairness, Replace Ventures, Greycroft Companions and Canaan Companions. Most just now not too lengthy within the past, The RealReal closed a Series G financing of $115 million in July 2018 that valued the commercial at $745 million, perPitchBook.

The RealReal has just now not too lengthy within the past expanded its brick-and-mortar footprint and added extra e-commerce success centers as rely on of increased for its supply of 2d-hand luxurious objects. Based in 2011, the firm operates eight luxurious consignment areas of work, where potentialities can get hold of free valuations of their luxurious objects. The RealReal is headquartered in San Francisco.

In adialogwith TechCrunch in 2017, Wainwright confirmed the firm’s intent to switch public at some level. With this upcoming round, The RealReal would be smartly placed for a 2020 preliminary public offering.

“That’s the target,” Wainwright acknowledged all the draw in which through the interview. “We actually aren’t within the mood to sell the commercial, we’re within the mood to switch public at some level in due path.”

The RealReal competes with fellow 2d-hand e-tailers ThredUp andPoshmark. The latter is gearing up for a tumble IPO, in step withThe Wall Avenue Journal. The catch marketplace has tapped Morgan Stanley and Goldman Sachs to steer its offering after closing in on $150 million in income in 2018. ThredUp, one more main participant within the vogue retail market, hasn’t raised capital since 2015, but did originateopening bodily storesin 2017 as share of its increased effort to compete with fellow challenge-backed 2d-hand e-tailers.

The RealReal would also be the most contemporary in a assortment of excessive-profile feminine-primarily based corporations to accomplish unicorn website. Glossier tripled its valuation to $1.2 billion with a$100 millionround earlier this yr, adopted by Rent the Runway, which attracted a $125 million funding at a$1 billion valuation,to title a number of.