Luxury online retailer The RealReal has joined a growing club…the one going public.
The startup announced it has filed an initial public offering, underwritten by Credit Suisse, BofA Merryl Lynch and UBS Investment Bank, among other financial institutions. It has not indicated on its filing how many common shares it plans to offer the public. It is shooting for a maximum worth of $100 million for the IPO.
The heavily advertised retailer offers high end second hand fashions and accessories from Channel, Gucci, Rolex and other luxury brands. Pitchbook says the company is worth $745 and seems poised to break into billion dollar status. RealReal posted a net loss of $76 million last year, contrasting to a $52 million loss. Its revenue was $207 million. The company has been in existence since 2011, founded by current CEO Julie Wainwright.
RealReal will trade on the NASDAQ stock exchange under the ticker symbol “REAL”.