ThredUp set its listing price at $14 each for 12 million shares. That was the high end of its estimate range range.
At last check the shares were 30% higher at $18.15.
ThredUp raised $168 million at a valuation of about $1.3 billion.
The company will use the proceeds to expand its business, including adding new categories and investing further in its operating platform and technology, according to its S-1 filing with the Securities and Exchange Commission.
ThredUp for 2020 posted a $48 million loss, widened from $38 million for 2019. Revenue rose 14% from a year earlier to $186 million.
The Oakland, Calif., company said it had 1.2 million active buyers at the end of last year, up 24% from the previous year. ThredUp shoppers on average visited the site six times a month and placed 3.2 orders.
Goldman Sachs and Morgan Stanley were lead bookrunning managers of the offering while KeyBanc, Wells Fargo, Telsey and others participated in the IPO.
ThredUp's public debut comes about two months after fellow online resale company Poshmark (POSH) - Get Report doubled in its debut on the Nasdaq. Since its debut, however, Poshmark has dropped more than 60%.
Earlier this month, Poshmark forecast first-quarter revenue that missed estimates, prompting several analysts to lower their one-year price targets on the stock.
Shares of Poshmark, Redwood City, Calif., recently were trading 5.4% higher at $40.42.