Twice (online retailer)

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
TypeSubsidiary of eBay
IndustryE-commerce, Apparel, Retail
Founded2012
FoundersNoah Ready-Campbell, Calvin Young
HeadquartersSan Francisco, California, United States
Number of employees
250+

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
  • Entrepreneur's 100 Brilliant Companies [25]
  • 2015 Forbes 30 Under 30: Noah Ready-Campbell & Calvin Young of Twice [26]
  • 2015 Inc. Magazine’s 30 Under 30 list: Noah Ready-Campbell & Calvin Young of Twice [27]

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