Sarah Everard was last seen walking from near Clapham Junction to her home in Brixton, south London, at around 9.30pm.
Her phone signal was last picked up near Clarence Avenue, in Clapham, where she left another friend.
Friends informed police of Ms Everard’s disappearance on Thursday.
She is 5 ft 4 (162cm), slim build with blonde hair.
She was wearing a green jacket and black and white trousers when she was last seen.
Police are asking anyone with information to call 999 and reference 21MIS006196.
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