Executive Summary

The RealReal raised $300 million in its June 28 NASDAQ IPO. The stock went up 44.5% to $28.90 per share in its first day.

• The company reported 1Q19 GMV of $224 million, up 41.8% year over year.
• Authentication is one of the company’s key characteristics.
• Buyer acquisition cost decreased to $121 in 1Q19, from $224 in 2014.