The RealReal CEO Julie Wainwright told TechCrunch they the luxury resale marketplace is planning to go public “someday”:
The RealReal CEO Julie Wainwright tells TechCrunch in a video interview that she’s preparing the luxury consignment e-tailer to go public someday. “That’s the goal,” she said when asked about IPO plans. “We really aren’t in the mood to sell the business, we’re in the mood to go public at some point in the future.”
It makes sense that a startup that’s raised $173 million in funding would be expected to provide liquidity for its investors eventually. Just last month, the company announced a round of $50 million led by private equity firm Great Hill Partners. Previous investors include Canaan Partners and Greycroft Partners.
We wrote about The RealReal in May:
Founded in 2011, The RealReal, that makes consignment (resale) of luxury items online possible by, among other things, independently verifying the items for the buyers before putting them up, has raised $123 million in venture funding to date and is on track to make $500 million in GMV this year.