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Twice

twiceNoah Ready-Campbell sees an opportunity "for a tech startup that competes with consignment shops," reports Rhonda Colvin in The Wall Street Journal (5/8/14). Along with Calvin Young, Noah is founder of Twice, an online venture that "buys clothing directly from women who are cleaning out their closets," and then sells it. Noah says he got the idea while at boarding school and, struggling to afford its fancy dress code, discovered he could buy a $200 Brooks Brothers shirt for just $10 at the Salvation Army.

Noah says the experience gave him "a little bit more insight" into the value of used clothes "than probably your typical entrepreneur in Silicon Valley." Noah, 25, and Calvin, 26, are both ex-Google employees, who in 2012 invested $40,000 of their own money into buying up used women’s apparel and launching Twice. They used Google AdWords (the phrase: "sell my clothes online") to find the "10,000 items of ‘lightly-used women’s clothing’" they needed "to launch the online marketplace."

Today, Twice "carries about 400 different brands … has about 160 employees and plans to expand to 250 workers by year end." Noah says Twice improves on eBay, for example, "through better merchandising, photography and data attached to every item." To arrive at pricing, Twice looks "at a culmination of historical data and some algorithms" as well as "human judgment." Noah says he considered creating a marketplace for men’s clothing but it just didn’t add up, as "the women’s apparel market is so much bigger."