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How a Used-Clothing Site Raised $8.4 Million in Venture Capital

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This story appears in the September 2011 issue of Entrepreneur. Subscribe »
Kids' stuff: (From left) Chris Homer, Oliver Lubin and James Reinhart.
Kids' stuff: (From left) Chris Homer, Oliver Lubin and James Reinhart.
Photo© Eva Kolenko

James Reinhart, Chris Homer and Oliver Lubin had a problem in common: They all had too many clothes. The three entrepreneurs (Reinhart and Lubin were roommates at Boston College; Reinhart and Homer were friends at Harvard Business School) estimated that they only wore about 25 percent of the clothing they owned. The rest just took up valuable space in their cramped apartments.

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