Poshmark, Inc. (POSH) operates as a social commerce marketplace for new and second-hand style products in the United States, Canada, India, and Australia. The company offers apparel, footwear, beauty, home, electronics, and accessories. It has more than 7.6 million active buyers.
Last week, POSH management agreed to be acquired by Naver Corp., a South Korea-based e-commerce company, for $1.2 billion. The deal values the online marketplace at less than half the price it went public in early 2021. Naver is paying $17.90 per share in cash, while POSH priced its initial public offering at $42 a share in January 2021.
