# EDGAR Filing Document

**Accession Number:** 0001167212
**File Stem:** 0000919574-25-004683
**Filing Date:** 2025-8
**Character Count:** 15937
**Document Hash:** 37010a3ccfe7bd7e44c8be4cfe181830
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-004683.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0000919574-25-004683

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250813

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ThredUp Inc.
- **CENTRAL INDEX KEY:** 0001484778
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 264009181
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-92452
- **FILM NUMBER:** 251213415

**BUSINESS ADDRESS:**
- **STREET 1:** 969 BROADWAY
- **STREET 2:** SUITE 200
- **CITY:** OAKLAND
- **STATE:** CA
- **ZIP:** 94607
- **BUSINESS PHONE:** 415-402-5202

**MAIL ADDRESS:**
- **STREET 1:** 969 BROADWAY
- **STREET 2:** SUITE 200
- **CITY:** OAKLAND
- **STATE:** CA
- **ZIP:** 94607

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** thredUP
- **DATE OF NAME CHANGE:** 20100222
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEEDHAM INVESTMENT MANAGEMENT LLC
- **CENTRAL INDEX KEY:** 0001167212

**ORGANIZATION NAME:**
- **EIN:** 223408336
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 250 PARK AVENUE, 10TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10177
- **BUSINESS PHONE:** 212-705-0404

**MAIL ADDRESS:**
- **STREET 1:** 250 PARK AVENUE, 10TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10177

## Ex-99

<u>Exhibit A</u>

<u>JOINT FILING AGREEMENT</u>

The undersigned agree that this Schedule 13G Amendment No. 2 dated August 13, 2025 relating to the Class A Common Stock, $0.0001 par value per share, of ThredUp Inc. shall be filed on behalf of the undersigned.

---

| |
|:---|
| &nbsp;&nbsp; NEEDHAM INVESTMENT MANAGEMENT L.L.C.<br>By: /s/ James W. Giangrasso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: James W. Giangrasso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Financial Officer |

---

---

| |
|:---|
| &nbsp;&nbsp; NEEDHAM ASSET MANAGEMENT, LLC<br>By: /s/ James W. Giangrasso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: James W. Giangrasso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Authorized Person |

---

---

| |
|:---|
| &nbsp;&nbsp; NEEDHAM AGGRESSIVE GROWTH FUND<br>By: /s/ James W. Giangrasso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: James W. Giangrasso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Financial Officer |

---

&nbsp;&nbsp; GEORGE A. NEEDHAM<br>By: /s/ George A. Needham<br>

## Ex-99

<u>Exhibit B</u>

<u>CONTROL PERSON IDENTIFICATION</u>

Needham Investment Management L.L.C. is the relevant entity for which each of Needham Asset Management, LLC and George A. Needham may be considered a control person.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Issuer:** ThredUp Inc.

**Title of Class of Securities:** Class A Common Stock, $0.0001 par value per share

**CUSIP Number:** 88556E102

**Date of Event Which Requires Filing of this Statement:** 06/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Needham Investment Management L.L.C. | Names of Reporting Persons<br>Needham Investment Management L.L.C. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5875000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5875000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5875000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5875000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.1% | Percent of Class Represented by Amount in Row (9)<br>6.1% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, OO | Type of Reporting Person (See Instructions)<br>IA, OO |

---

| 1. | Names of Reporting Persons<br>Needham Asset Management, LLC | Names of Reporting Persons<br>Needham Asset Management, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5875000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5875000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5875000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5875000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.1% | Percent of Class Represented by Amount in Row (9)<br>6.1% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, OO | Type of Reporting Person (See Instructions)<br>HC, OO |

---

| 1. | Names of Reporting Persons<br>Needham Aggressive Growth Fund | Names of Reporting Persons<br>Needham Aggressive Growth Fund |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>MD | Citizenship or Place of Organization<br>MD |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5875000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5875000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5875000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5875000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.1% | Percent of Class Represented by Amount in Row (9)<br>6.1% |
| 12. | Type of Reporting Person (See Instructions)<br>IV, OO | Type of Reporting Person (See Instructions)<br>IV, OO |

---

| 1. | Names of Reporting Persons<br>George A. Needham | Names of Reporting Persons<br>George A. Needham |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5875000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5875000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5875000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5875000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.1% | Percent of Class Represented by Amount in Row (9)<br>6.1% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

**Item 1(a). Name of Issuer:**
ThredUp Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
969 Broadway, Suite 200, Oakland, California 94607

**Item 2(a). Name of Person Filing:**
Needham Investment Management L.L.C.
Needham Asset Management, LLC
Needham Aggressive Growth Fund
George A. Needham

**Item 2(b). Address of Principal Business Office:**
Needham Investment Management L.L.C.
250 Park Avenue, 10th Floor
New York, New York 10117-1099
United States of America

Needham Asset Management, LLCc/o Needham Investment Management L.L.C.
250 Park Avenue, 10th Floor
New York, New York 10117-1099
United States of America

Needham Aggressive Growth Fundc/o Needham Investment Management L.L.C.
250 Park Avenue, 10th Floor
New York, New York 10117-1099
United States of America

George A. Needhamc/o Needham Investment Management L.L.C.
250 Park Avenue, 10th Floor
New York, New York 10117-1099
United States of America

**Item 2(c). Citizenship:**
Needham Investment Management L.L.C. - Delaware
Needham Asset Management, LLC - Delaware
Needham Aggressive Growth Fund - Maryland
George A. Needham - United States

**Item 2(d). Title of Class of Securities:**
Class A Common Stock, $0.0001 par value per share

**Item 2(e). CUSIP Number:**
88556E102

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

Needham Investment Management L.L.C. - 5,875,000
Needham Asset Management, LLC - 5,875,000
Needham Aggressive Growth Fund - 5,875,000
George A. Needham - 5,875,000

**(b) Percent of class:**

Needham Investment Management L.L.C. - 6.1%
Needham Asset Management, LLC - 6.1%
Needham Aggressive Growth Fund - 6.1%
George A. Needham - 6.1%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

Needham Investment Management L.L.C. - 0
Needham Asset Management, LLC - 0
Needham Aggressive Growth Fund - 0
George A. Needham - 0

**(ii) Shared power to vote or to direct the vote:**

Needham Investment Management L.L.C. - 5,875,000
Needham Asset Management, LLC - 5,875,000
Needham Aggressive Growth Fund - 5,875,000
George A. Needham - 5,875,000

**(iii) Sole power to dispose or to direct the disposition of:**

Needham Investment Management L.L.C. - 0
Needham Asset Management, LLC - 0
Needham Aggressive Growth Fund - 0
George A. Needham - 0

**(iv) Shared power to dispose or to direct the disposition of:**

Needham Investment Management L.L.C. - 5,875,000
Needham Asset Management, LLC - 5,875,000
Needham Aggressive Growth Fund - 5,875,000
George A. Needham - 5,875,000

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

All of the securities reported in this Schedule 13G Amendment No. 2 are directly owned by advisory clients of Needham Investment Management L.L.C.. None of those advisory clients may be deemed to beneficially own more than 5% of the Class A Common Stock, $0.0001 par value per share.

**Item 7. Identification and Classification of the Subsidiary**

Please see Exhibit B attached hereto.

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Needham Investment Management L.L.C.**

**Date:** 08/13/2025

**By:** /s/ James W. Giangrasso

**Name & Title:** James W. Giangrasso/Chief Financial Officer

**Needham Asset Management, LLC**

**Date:** 08/13/2025

**By:** /s/ James W. Giangrasso

**Name & Title:** James W. Giangrasso/Authorized Person

**Needham Aggressive Growth Fund**

**Date:** 08/13/2025

**By:** /s/ James W. Giangrasso

**Name & Title:** James W. Giangrasso/Chief Financial Officer

**George A. Needham**

**Date:** 08/13/2025

**By:** /s/ George A. Needham

**Name & Title:** George A. Needham