The RealReal reportedly authorized enough shares for a $70 million raise, according to Prime Unicorn Index. If all authorized shares are issued, the company's valuation would be $1.06 billion, pushing it to unicorn status. The RealReal declined Retail Dive's request for comment.
Prime Unicorn Index's most recent valuation of TheRealReal was $753 million after closing $115 million in Series G funding in July last year.
The company's current share price is $6.87 per share, up from $5.29 during the Series G funding round, per Prime Unicorn Index.
If all authorized shares are issued, The RealReal, an online retailer for authenticated luxury consignment, will join several startups as of late to achieve unicorn status — a startup with a valuation of at least $1 billion.
The RealReal in July raised $115 million in Series G funding, led by PWP Growth Equity, the middle market private equity group of Perella Weinberg Partners, and additional participation from Sandbridge Capital and Great Hill Partners. CEO Julie Wainwright said that the funding would help the company expand its brick-and-mortar footprint and e-commerce fulfillment centers. "Over the last seven years, we have re-envisioned the experience of buying and selling luxury goods, and become a leader in the circular economy for luxury goods," she said in a statement at the time.
The company in January also began holding discussions with investment banks about filing an initial public offering later this year. And with the potential for a $1 billion valuation, the company further positions itself to reach that goal.