Just ahead of a rumored IPO, Poshmark, one of Forbes' Next Billion-Dollar Startups, is undertaking its biggest market expansion yet by bizcarson
Poshmark started eight years ago as a way for women to offload their extra clothes and make money, like a more social eBay where people could comment and share the clothes they liked. It has since become a retail empire that racked up an estimated $140 million in revenue in 2018, thanks to its 20% cut of every sale, and expanded into categories like menswear, makeup and kids., is undertaking its biggest market expansion yet: home decor.
Home decor will be its greatest test yet as it sets up Poshmark to compete against major retailers like Wayfair to. In the past eight years, Poshmark carved out a niche as a go-to place for fashion that goes beyond Amazon's click-and-buy experience to feel more like window shopping on your phone. It started as a place for people to sell their used clothing directly to each other , and the community grew to over 40 million people.
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