Poshmark

Poshmark is a social commerce platform that enables individuals to buy and sell new and pre-owned clothing, accessories, home goods, and other lifestyle products. Founded in 2011 and headquartered in Redwood City, California, the platform combines elements of social networking with e-commerce, allowing users to follow each other, share listings, and participate in virtual 'Posh Parties' — themed shopping events that drive engagement and discovery. With tens of millions of registered users and millions of active sellers, Poshmark has established itself as one of the dominant players in the resale and recommerce space. Poshmark went public on the Nasdaq in January 2021 under the ticker POSH, raising approximately $277 million in its IPO. The company operates on a commission-based marketplace model, taking a percentage of each completed sale. Its mobile-first approach and community-driven features differentiated it from traditional e-commerce platforms, fostering a loyal base of 'Poshers' who treat the app as both a shopping destination and a social network. The platform has expanded beyond fashion into categories like home décor, electronics, and pet products. In October 2022, South Korean internet giant Naver Corporation announced its acquisition of Poshmark for approximately $1.2 billion, a deal that closed in January 2023. Under Naver's ownership, Poshmark continues to operate as a distinct brand and platform, benefiting from Naver's technology resources and global reach. The acquisition is seen as a strategic move by Naver to expand its presence in the U.S. social commerce market and leverage Poshmark's established community and recommerce infrastructure.