Poshmark

The Poshmark company founded in 2011 develops the online store of second-hand clothes of the same name, footwear and accessories. Like eBay and Etsy, Poshmark allows buyers to contact sellers who often expose goods from own cabinet. At the same time Poshmark receives a share from each transaction.

History

2021: Entry into the Nasdaq exchange

In the middle of January, 2021 the service for resale of things without personal meeting of Poshmark went public Nasdaq and was estimated at $7.4 billion (market capitalization). Stocks of the company rose more than 141% in the first day of the beginning of biddings.

To closing of biddings at the exchange the cost of papers of a sekond-hend-startup was $101.5 apiece, on a maximum it rose up to $104.98. At the same time the price of placement was $42.

The service for resale of things without personal meeting of Poshmark went public Nasdaq

The CEO of Poshmark Manish Chandra noted that his company tries to be selected among the competitors in the field of online resale with what pays attention of so-called "social commerce" when buyers and sellers can easy discuss goods on the website.

Poshmark submitted the application for initial public offering in December, 2020. The company notes that it benefited by a pandemic as the got stuck houses buyers continue to address online stores for goods - as prime necessity, and minor. According to the company, this market became a source of an additional income for 4.5 million sellers of Poshmark.

However Manish Chandra does not consider the post-pandemic future in which a part of buyers will return to normal shops as threat for Poshmark business.

In my opinion, the daily activity of people - visit of actions, work at offices - will only accelerate our progress, 45% of goods which we sell - it is clothes, - Chandra told. - Namely we pay to clothes special attention when we are published.

By January, 2021 at the company totals 6.2 million active buyers and 31.7 million active users.^[1]

Notes