thredUP Dual Lists on Long-Term Stock Exchange, Bolstering ESG Commitment

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[{"type":"text","content":"OAKLAND, Calif., May 9, 2023 /PRNewswire/ -- thredUP, the largest online resale platform for apparel, shoes, and accessories, today announced that it has dual listed its Class A common stock on the Long-Term Stock Exchange (LTSE), a subsidiary of LTSE Group. thredUP is the first consumer company to list on the LTSE, committing to the higher standards of the exchange. They are one of two companies listed on the platform, alongside Asana (NYSE, LTSE: ASAN).\n\n \n \n \n \n \n \n\n \n\"With this listing, thredUP threw down the gauntlet for all consumer companies,\" said Eric Ries, founder and chairman of LTSE. \"It is not enough to make pledges to your stakeholders; it is time for binding commitments the public can believe.\"\nLTSE's principles-based listing standards require listed companies to detail and publish policies on their website that offer stakeholders insight into how a company builds its business for the long term. By listing on LTSE, thredUP is affirming its strategic alignment with long-term shareholders, employees, customers, and communities within a public market designed to promote sustainability, resilience, and long-term value creation.\n\"It is time for decisive action. Companies have punted too many promises to their stakeholders on the environment, social causes and who they are building for,\" said James Reinhart, founder and CEO of thredUP. \"By dual listing on LTSE, we are codifying the critical relationship between thredUP and our long-term stakeholders and ensuring our success is their success.\"\nthredUP and LTSE are pioneering the next generation of capitalism where traditional measures of financial performance and generating long-term sustainable value are integrated. The dual listing demonstrates how thredUP is reframing capitalism through an impact lens, which is a key tenet of thredUP's business strategy and core to thredUP's mission to inspire a new generation of consumers to think secondhand first.\nRead thredUP's LTSE policies here, and learn how they're helping their people, communities, and the planet in their Impact Report.\nAbout thredUPthredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for apparel, s...

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