It was a quick turn and a big come down on Wall Street for Poshmark, which agreed to a $1.2 billion buyout from Naver, South Korea’s largest internet company.
Now inflation, war and supply chain troubles have hit the stock market hard — and although Poshmark’s asset-lite, peer-to-peer business model shields it from the direct impact of those disruptions, its stock has suffered.
Chandra called the chance to link with Naver “a testament to the strength of our brand, operating model, and what we’ve built over the last decade with our talented team and amazing community. Our industry continues to evolve at a rapid pace and we are excited to continue to lead the future of shopping by providing our community with an unparalleled experience that is simple, social, fun and sustainable.
At Naver, Poshmark taps into a multifaceted digital company with an e-commerce platform that drove over $25 billion in GMV last year.
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