Online second-hand fashion store Twice has raised $4m in a venture round which saw participation from AOL-backed venture firm CrunchFund, big data fund IA Ventures, and seed-stage venture firm Lerer Ventures.
Other investors include boutique venture firm Felicis Ventures, micro venture firm SV Angel, High Line Venture Partners. The venture firms were also joined by a consortium of angel investors including; Buddy Media CEO Mike Lazerow, Trialpay CEO Alex Rampell, Twitter vice president of corporate strategy Elad Gil, shopping engine Milo founder Jack Abraham, Tumblr president John Maloney, and Maria Thomas, the former CEO of e-commerce website Etsy.
The $4m investment is the first such investment in the San Francisco-based company, which was founded last year by two former Google staff members Noah Ready-Campbell and Calvin Young.
“The average family throws away over 175 pounds of clothing every year — for many people, there’s simply no convenient alternative,” said Twice co-founder and chief executive Noah Ready-Campbell to news provider TechCrunch. “Some people turn to eBay, but it takes 20-30 minutes to list a single garment — in addition to the time spent fielding questions and shipping items out. Most people don’t have the kind of time needed to sell efficiently on a peer-to-peer marketplace. Just like how Airbnb and Getaround have zeroed in on small pieces of Craigslist, our goal is to take a small piece of what eBay does, and do it much, much better.”