Twice (online retailer) explained

Twice
Foundation:2012
Founders:Noah Ready-Campbell, Calvin Young
Location:San Francisco, California, United States
Type:Subsidiary of eBay
Industry:E-commerce, Apparel, Retail
Num Employees:250+

Twice was an online marketplace for buying and selling secondhand apparel[1] based in San Francisco, CA.[2] The e-commerce platform was created to make selling used goods easier and shopping used like buying new.[3] Twice manages the selling process for the customer, such as pricing, shipping and merchandising.[4] Twice vets each item to ensure it meets “like new” standards.[5] The company currently buys and sells men's and women's clothing as well as women’s shoes and handbags from popular retailers and brands.[6]

Twice was acquired by eBay in July 2015.[7] Since launching, the company has grown to more than one million users.[8]

History

Twice launched in 2012 starting with women's clothing.[9] In October 2014, the company expanded into women's shoes and handbags.[10] Twice launched into menswear in January 2015.[11] As of late 2015 Twice has been shut down.

Founders

Noah Ready-Campbell and Calvin Young are the founders of Twice. Noah is the CEO of Twice and Calvin is the CTO.[12] Noah and Calvin started their careers at Google and joined Y Combinator.[13] Noah graduated from the University of Pennsylvania’s Wharton School with a dual degree in engineering from the Jerome Fisher Program in Management and Technology.[14] Calvin received a dual degree from the University of North Carolina, Chapel Hill.[15]

Funding/strategic partners

Twice is backed by Andreessen Horowitz, SV Angel and IA Ventures.[16] To date, Twice has received $23.1 Million in funding.[17]

Buying and selling

Users can sell clothing, shoes and handbags in two ways: request a prepaid selling kit or print out a shipping label.[18] Twice processes the items and sends an all-or-nothing offer to the user within days, which users accept or reject.[19] If accepted, Twice offers multiple options for immediate payout including PayPal and Venmo.[20] If rejected, Twice charges $4.95 for return shipping.[21] Items that are not returned are donated or recycled.[22]

Each item Twice receives is assessed based on company requirements: items must be less than five years old, an accepted brand, and in like-new condition.[23] Once approved, items are priced, steamed, merchandised and listed for purchase at roughly 70-90% less than the original retail value.[24]

Awards and recognition

Notes and References

  1. Web site: Secondhand Clothing Marketplace Twice Raises $18.5M From Andreessen Horowitz . TechCrunch. 16 January 2014.
  2. Web site: How I Built It: Startup Takes Second Look at Used Clothes. Wall Street Journal. 7 May 2014.
  3. Web site: Twice Is Making Selling Clothes Online Easier Than Ever. Complex. 27 January 2015.
  4. Web site: The Startup That Thinks It Can Dethrone eBay. Wired. 26 January 2015.
  5. Web site: After Selling My Clothes Through The Mail, I Think Online Consignment Is Brilliant. Business Insider. 22 August 2014.
  6. Web site: How a Lifelong Obsession With Secondhand Clothes Led to $23 Million in Funding. Inc.. 23 April 2015.
  7. Web site: eBay Has Bought Twice, an Online Consignment Shop for Women's Clothing. Recode.. 20 July 2015.
  8. Web site: Secondhand Shop Twice Now Lets You Pay With Other Retailers' Gift Cards. TechCrunch. 18 February 2015.
  9. Web site: How I Built It: Startup Takes Second Look at Used Clothes . Wall Street Journal. 7 May 2014.
  10. Web site: Eight Things You Need to Know About Twice . Racked. 16 March 2015.
  11. Web site: Eight Things You Need to Know About Twice . Racked. 16 March 2015.
  12. Web site: Startup Offers Failed Entrepreneurs A Million-Dollar Signing Bonus. Business Insider. 8 October 2012.
  13. Web site: WHO NEEDS Y COMBINATOR, ANYWAY? NOT THESE TWO DROPOUTS. Fast Company. 13 December 2012.
  14. Web site: If You Weren't An Entrepreneur, What Would You Be?. UPenn.edu. 22 July 2014.
  15. Web site: Is 30 Now Entrepreneurially Old? Two of Forbes' '30 Under 30′ Say It Ain't So. Pursuitist. 31 March 2015.
  16. Web site: Andreessen Horowitz helps online thrift shop Twice raise $18.5M. Silicon Valley Business Journal. 16 January 2014.
  17. Web site: Millennials' Used-Garment Website Says You Can 'Venmo Me'. Bloomberg. 23 September 2014.
  18. Web site: Eight Things You Need to Know About Twice . Racked. 16 March 2015.
  19. Web site: How a Lifelong Obsession With Secondhand Clothes Led to $23 Million in Funding. Inc.. 23 April 2015.
  20. Web site: Millennials' Used-Garment Website Says You Can 'Venmo Me'. Bloomberg Businessweek. 23 September 2014.
  21. Web site: Twice Is Making Selling Clothes Online Easier Than Ever. Complex. 27 January 2015.
  22. Web site: Twice aims for hassle-free secondhand buying and selling online. SFGate. 24 August 2012.
  23. Web site: How I Built It: Startup Takes Second Look at Used Clothes. Wall Street Journal. 7 May 2014.
  24. Web site: WHO NEEDS Y COMBINATOR, ANYWAY? NOT THESE TWO DROPOUTS. Fast Company. 13 December 2012.
  25. Web site: 100 Brilliant Companies. Entrepreneur. 8 June 2015.
  26. Web site: Forbes 30 Under 30. Forbes. 1 January 2015.
  27. Web site: How a Lifelong Obsession With Secondhand Clothes Led to $23 Million in Funding. Inc.. 23 April 2015.

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