ThredUp Inc. (NASDAQ:TDUP, LTSE: TDUP))), one of the largest online resale platforms for apparel, shoes, and accessories, announced today that it entered into a binding agreement to divest its European business, Remix, in a management buyout led by Florin Filote, the General Manager of Remix. The divestiture closed simultaneously with the signing of the agreement. ThredUp retains a minority interest in the Remix business and prior to the closing of the transaction, Remix received a final cash investment of $2 million from ThredUp to help fund operations as Remix continues its fundraising process independently. This strategic transaction allows both ThredUp and Remix to focus on their respective core markets and strengths.