RealReal Opens Above IPO Price

RealReal Inc REAL made its public debut Friday morning, opening at $28 after being priced at $20 per share.

The company was founded in 2011 and is headquartered in San Francisco, California

RealReal is an online marketplace for authenticated consigned luxury goods that facilitates the resale of luxury goods by providing an end-to-end service, unlocking supply from consignors and creating a trusted, curated online marketplace for buyers globally, the company said in its S-1 filing.

The company aggregates and curates a unique, pre-owned luxury supply that is exclusive across multiple categories such as womens, mens, kids, jewelry and watches, and home and art. The luxury goods market is projected to grow from an estimated $294 billion in 2018 between $362 billion and $412 billion in 2025, RealReal said, citing estimates by Bain.

Credit Suisse, Bank of America Merrill Lynch, UBS, KeyBanc Capital Markets and Stifel are among the underwriters for the offering.

The stock traded around $29.63 per share at time of publication.

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