Poshmark has become a mainstay of the online-shopping world. It’s not only a marketplace to buy used clothes and accessories, but also a platform for users to sell handmade goods and generate their own income. Tracy Sun, cofounder of the e-commerce platform, said nearly one in three American women uses the website today. But the company had to think outside the box to get this far.
When Poshmark was first rallying investors, Sun said she realized traditional fundraising routes weren't going to cut it; lenders weren’t connecting to the vision of her business, and it was difficult to break past stigmas associated with women-owned companies. At the Fortune Most Powerful Women Summit on Monday, Sun spoke about Poshmark’s trial and errors in fundraising, and how she pivoted.
