Kids On 45th: Seattle used clothing startup Kids on 45th shuts down after running out of cash

Kids on 45th, a Seattle e-commerce startup that sold used clothing, is shutting down. The company aimed to help parents with a common problem: buying affordable clothes for their growing kids. Over the past two years it served more than 25,000 families and 50,000 kids in all 50 states. But it was unable to scale up and ran out of cash. "Venture-scale businesses need good margins to be able to sustain themselves and scale," said CEO Elise Worthy. "It turned out we just couldn't offer the prices that we wanted to and run a scalable business." The company, headquartered in... Read More