Threadflip Suddenly Shuts Down, Will ‘Partner’ With Le Tote

Online consignment is competitive. Threadflip, a San Francisco-based online consignment startup, will shut down as of midnight Wednesday night, the site told users earlier this week. Founded in 2011, the company had gathered 1.5 million users and raised $21.1 million in venture funding from Norwest Ventures Partners, Shasta Ventures, Baseline Ventures and First Round Capital.