Photo: Nikki Durkin
Australian entrepreneur Nikki Durkin just launched her startup 99Dresses at Y Combinator’s demo day yesterday, and everyone is already raving about it.99Dresses lets women sell their clothes online through a virtual closet. Women set prices in a virtual currency called buttons, then trade buttons for other dresses. For each transaction, the sender pays shipping and handling. But no actual money changes hands.
Durkin first launched it in Australia. In the first four months, 4,500 dresses were uploaded and 3,500 sold.
It got good traction over there, so she moved to San Francisco to be part of the latest batch of Y Combinator companies.
The plan is to push it out to the U.S. market to colleges and sororities. While young professionals and high school students like the idea of swapping clothes, Durkin is focusing on girls in their early 20s.
Durkin went to an all-girls boarding school in Sydney, where she naturally traded clothes with her school mates. While the she had the idea for 99Dresses when she was 16, she waited until she finished school to start the company.
She got first funding from Y Combinator. But she is raising a round, she told Business Insider.
Y Combinator was good for the mentorship point of view and was good to be with people who had the same experiences.
Now that the Y Combinator program is over, she’ll probably head home for a while. “We will probably head back to Australia, and then come back out here or head over to the East Coast,” Durkin said.