Manik Singh never claimed to know much about fashion. What the Silicon Valley-based engineer did know was that his wife, Theresa, had a little closet problem — that is, a collection of unworn items clogging up the racks. But when he asked her (and other female friends) why they held on to these garments, the answer he kept hearing was: “It’s too hard to do anything else with them.”
As a veteran user experience manager for a number of software companies, Singh believed there had to be a better solution. After more deep dives into other closets and many conversations with friends, family members and focus groups, Singh did a little reverse engineering and came up with a platform called Threadflip.com.
A marketplace for users to buy and sell unwanted clothes and accessories, Threadflip features an intuitive interface that’s designed to make converting closet clutter into cash a cinch. “We looked at the common challenges and key barriers and solved them one by one,” Singh says. Everything from the free sign-ups via Facebook to taking and uploading photos, pricing items, packaging and shipping (more on that later) was considered.
Though it only just opened to the masses today, Threadflip started an invitation-only beta test two months ago. Singh reports that his wife sold goods on the first day, and not just to her friends but to women she didn’t know living on the opposite coast. It wasn’t long before Threadflip’s user base swelled to 5,000, with 30 percent checking into the site daily. Singh says there are approximately 7,500 pieces on Threadflip right now — among them, an acrylic bangle splashed in flowers for $3, a DVF classic silk wrap dress for $88 and a Marc by Marc Jacobs leather handbag for $310.
It works like so: Your items are showcased via high-resolution photos, which can come from Facebook albums or Instagram streams. For those who prefer it, Threadflip offers a “white glove” service that does the photography, uploads, pricing and shipping for you. All that’s required is a request, and a box with a shipping label is delivered to your door ready to fill with those unwanted items.
If you choose to handle the listing yourself, Threadflip steps in at the shipping point with a smart, “end-to-end” solution. As soon as the items sell, you get a prepaid shipping care package with label and wrapping materials. Call for a pick-up, and the box is whisked away. In exchange for this service, the site takes 15 percent of the sale as a fee for the materials, postage and handling.
By having users sign in through Facebook, Threadflip simplifies the process of searching through friends’ virtual closets and share updates. Threadflip’s own feed takes a page from Pinterest and Fab.com by alerting you to newly uploaded products, “loves” and comments. A mobile app is coming in two weeks, Singh says.
The site’s thoroughly designed user experience and social sharing have attracted more than just an early pool of dedicated shoppers. The platform recently snagged a $1.6 million seed round of financing led by First Round Capital and Baseline Ventures. Additional participants in the round include Dave Morin from Slow Ventures, Forerunner Ventures, Greylock Discovery Fund and Andreessen Horowitz Seed Fund.
As for his wife, Singh says she’s still an active member. “She’s used some of the money to buy more things.” Next up, maybe he’ll need to engineer a bigger closet.