June 5, 2012, 4:50 PM

Threadflip launches new iOS app and announces $6.5 million in Series-A financing

Multi-Platform Fashion Marketplace Offers a Simple Way to Discover, Buy and Sell Fashion - Anytime and Anywhere

SAN FRANCISCO, CA - June 5, 2012 - Threadflip, the leading social marketplace for discovering, buying and selling fashion, today announces the launch of their new mobile app and the close of a $6.5M Series-A round. The round is led by Shasta Ventures, with participation from Lowercase Capital and existing investors: First Round Capital and Baseline Ventures. This brings Threadflip's total funding to $8.1M. Tod Francis of Shasta Ventures joins Threadflip's board of directors.

Threadflip provides a simple and streamlined way to discover, buy and sell fashion online. Inspired by the reality that there comes a day when even a beloved fashion favorite is better served spicing up someone else's closet, Threadflip enables users to easily recoup some of their investment and make room for new finds. In turn, Threadflip shoppers enjoy access to style inspiration and designer apparel (from Paul Smith to Prada, vintage to Vuitton, and everything in between) at a fraction of the original price.

Threadflip's multi-platform offering, seamless end-to-end shipping and White Glove Service have removed all barriers to buying and selling online.

Threadflip's new iOS app enables anywhere, anytime shopping and provides a simple way to upload stylish, sophisticated images for your Threadflip closet. To download the app, go to: www.threadflip.com/app or search for "Threadflip" in the iTunes app store.

"We know that fashion inspiration can strike at any time so, the new Threadflip mobile app provides a fun way to buy or sell clothing and accessories, no matter where you are," said Manik Singh, Threadflip founder and CEO. "With quick and easy access to your curated listings, orders, shopping cart, favorites and purchase history, the Threadflip app is a streamlined, high-utility extension of the online Threadflip experience."

Threadflip iOS App Feature Highlights:

* Anywhere shopping: Seamless mobile integration of your shopping cart, favorites and purchase history
* Sales on-the-go: Quick and easy uploads, access to merchant tools, listings and orders
* Photo filters, to express your personal style and enhance your listings
* Social sharing across Facebook and Twitter
* Curated feed

Series-A Round

"Thrilled to announce our latest round of funding, we are excited to see our existing investors carrying on and welcome new investors Shasta Ventures and Chris Sacca from Lowercase Capital," said Threadflip CEO Manik Singh. "25 years of experience working with consumer-focused technology companies and broad commerce and marketplace expertise give Tod Francis a unique understanding the consumer technology landscape and Threadflip's potential.

These qualities, combined with Chris Sacca's mobile expertise and matchless acumen for advising high-growth companies, make Tod and Chris invaluable additions to our investor syndicate."

The funding will enable Threadflip to continue building a world-class team and user experience, empowering its community and creating a fun and unique social shopping experience. Over the next few months, Threadflip will roll out a slew of new, enhanced services, including its popular White Glove service, which enables users to maximize their closets' value with minimal time and effort.

"We're passionate about companies in the online retail space that bring together community, content, and commerce, to create new and highly-engaging shopping experiences," said Tod Francis. "Threadflip does this better than any company in the industry. Threadflip uniquely leverages data from the community into virtually every area of its operations. This distinct approach makes for a great user experience, engendering tremendous loyalty and, ultimately, key competitive efficiencies and advantages. We look forward to participating in the growth and development of a powerful global retail brand."

Threadflip Mobile

On the go? Take Threadflip with you. Threadflip's iPhone app offers users the flexibility of browsing, buying and selling from their iPhone. The app includes photo filters, social sharing features, across Facebook and Twitter, easy item uploading and flexible search. Open the app and snap a photo of something that's been languishing in your overstuffed closet and list it instantly. Threadflip photo filters make it easy to play creative director and transform photos into compelling images that reflect your personal style and enhance listings. Seamless mobile integration of your shopping cart, favorites and purchase history, coupled with on-the-go closet management make the Threadflip app a streamlined, high-utility extension of the online Threadflip experience. To download the Threadflip app, go to: www.threadflip.com/app or search for "Threadflip" in the iTunes app store.

Seamless Shipping

Threadflip offers a seamless end-to-end shipping solution. As soon as your item sells, Threadflip sends you a prepaid shipping care package, including an addressed pre-paid shipping label and wrapping materials - everything you need to quickly and easily ship, without leaving the house.

White-Glove Service

Too busy to upload and sell your items? Threadflip can maximize your closet's value while saving precious time and effort. Just send us your items and our stylists take care of the rest - from styling photos, to researching pricing and merchandising your items. For more information about the White Glove service, please visit: www.threadflip.com/whiteglove.

Your Closet Goes Social

Via Facebook, Threadflip offers a fun and inspiring shopping experience. Users can easily find friends' closets; discover style inspiration and search by style, designer, size and category. And, every time you use Threadflip, the site understands more about who you are and what you like - so, over time, you'll enjoy a highly-curated experience based on your specific interests, affinities, connections and taste.

Threadflip Tastemaker Spotlights

Threadflip Tastemaker Spotlights provide exclusive access to one-of-a-kind items from the personal collections of tastemakers, as well as carefully-curated picks from the site. Since the April launch, Threadflip Tastemakers have included Tennessee Thomas, drummer for The Like, street style star Preetma Singh, actress/writer/stylist Katie Nehra and Elisa & Lily of StyleLikeU.

About Threadflip

Founded in 2011, Threadflip provides a smart and streamlined way for consumers to discover, buy and sell fashion online. Threadflip was created by a team with deep social commerce, technology and fashion experience. The company is backed by Shasta Ventures, First Round Capital, Baseline Ventures, Lowercase Capital's Chris Sacca, Slow Ventures, Forerunner Ventures, Greylock Discovery Fund and Andreessen Horowitz Seed Fund.

About Shasta Ventures

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