Shedd acquired Firesale in an all-stock deal that closed July 31, with Firesale shareholders swapping their equity for Shedd shares, according to an investor update from Firesale founder Anthony Longo. Longo became Shedd's chief operating officer and joined its board alongside CEO Ryan Frankel. Firesale set out to bring garage sales online, and Longo wrote that the category proved hard, with complicated pickup and delivery, large items that need local density to sell, and high acquisition costs across a broad inventory mix. Shedd sells vintage and secondhand fashion through 24-hour drops, and Frankel separately runs Thrift Vintage Fashion, a wholesale vintage apparel business that supplies it. Longo said Shedd is already profitable and wants a Series A within six months. btw, I was an investor in Firesale and am currently waiting to learn at what valuation my equity carried over to Shedd.
