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ThredUp CEO: Surprised by AI expansion costs but unconcerned

Retail Dive · ·by G4

TDUP
TDUP ThredUp Inc
$1.45 -2.68%
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  1. 1ThredUp CEO James Reinhart said he was surprised by the costs of expanding AI but does not mind at all.
  2. 2ThredUp's second-quarter revenue recorded approximately $90.8 million, achieving a 17% year-over-year revenue increase for the second quarter.
  3. 3ThredUp's second-quarter net loss was $5.9 million, representing a 15% increase in net loss for the second quarter.

So what's the key point?

The head of ThredUp said that while it costs a lot of money to expand artificial intelligence, it is okay. Revenue grew by 17%, but losses also increased.

Source Retail Dive · View original ↗

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