Poshmark

In 2011, the company was incorporated in Delaware as GoshPosh, Inc., changed its name to Poshmark, Inc. the same year, and launched the Poshmark platform. Co-founder and Chief Executive Officer Manish Chandra had previously co-founded the shopping website Kaboodle and served as its Chief Executive Officer from February 2005 to August 2010; Kaboodle was acquired by Hearst Communications in August 2007. From August 2010 to February 2011, he developed the foundation of Poshmark. The other co-founders are Tracy Sun, Gautam Golwala, and Chetan Pungaliya.⁠[1][1][1][1][1][1]

In 2019, Poshmark entered Canada, beginning operations outside the United States; the same year it launched Posh Remit, which automatically collects sales tax on taxable items sold on the platform.⁠[1][1]

On January 13, 2021, Poshmark priced its initial public offering, offering 6.6 million shares of Class A common stock at $42 per share, with the stock listed on the Nasdaq Global Select Market under the symbol POSH and the underwriters led by Morgan StanleyMorgan StanleyMorgan Stanley is an American global financial services firm that grew from an investment banking partnership into a publicly traded financial group spanning investment banking, securities trading, wealth management, and investment management.Open the full entry, Goldman Sachs, and others. The company has a dual-class share structure, with one vote per Class A share and 10 votes per Class B share; after the offering, holders of Class B shares held approximately 98.8% of the voting power.⁠[1][1][1][1][1][1][1]

At the time of the offering, as of September 30, 2020, the platform had 31.7 million active users, 6.2 million active buyers, and 4.5 million active sellers, with over 201 million secondhand and new items for sale from 9,431 brands; in the third quarter of 2020, gross merchandise volume was $375.4 million, revenue was $68.8 million, and net income was $10.8 million.⁠[1][1][1]

Poshmark entered Australia in February 2021 and India later the same year. For full-year 2021, gross merchandise volume was $1.8 billion, up 27% from $1.4 billion in 2020; revenue was $326 million, up 25%; and the net loss was $98.3 million, compared with net income of $18.8 million in 2020. As of the end of 2021, the company had 750 full-time employees, and the platform had generated over $6.2 billion in cumulative gross merchandise volume since 2011.⁠[2][2][2][2][2][2][2]

On October 3, 2022, Poshmark signed a merger agreement with the South Korean internet company NAVER Corporation, under which Naver would acquire all Poshmark shares for $17.90 per share in cash, representing an enterprise value of approximately $1.2 billion, a 15% premium to that day’s closing price, and a 34% premium to the 30-day volume-weighted average price. At the time, Poshmark had more than 80 million registered users. Naver Chief Executive Officer Choi Soo-Yeon said Naver’s search, AI recommendation, and e-commerce tools would power Poshmark’s global growth.⁠[3][3][4][4][4][4][4]

On December 27, 2022, a special meeting of Poshmark stockholders approved the acquisition by Naver. The transaction closed on January 5, 2023, with Poshmark becoming an indirect subsidiary of Naver, and the company asked Nasdaq to file for delisting.⁠[5][6][6]

On October 3, 2024, Poshmark replaced its previous 20% seller commission in the United States with a new price-tiered fee structure: sellers paid 5.99% of the order total plus an additional $1 to $3 based on the order total, and buyers also paid a 5.99% protection fee and the same fixed fees. Sellers subsequently reported that their sales had dropped significantly. On October 21, Chandra wrote to sellers to apologize, saying shoppers had spent less as a result and sellers’ earnings had instead fallen; the company reverted to its original fee structure as of October 24 and scrapped the accompanying Posh Pass pilot and the buyer protection fee.⁠[7][7][7][8][8][8][8][8][8][9][9][9]

In August 2025, Poshmark announced that Manish Chandra would step down as chief executive officer and move to a strategic position on the board of directors; effective October 1, 2025, Namsun Kim, executive chairman since April 2025 and formerly Naver’s president of investments and chief financial officer, would take over as chief executive officer. At the time, the platform had over 150 million users and had generated over $10 billion in cumulative gross merchandise volume since 2011.⁠[10][10][10][10][10]

Poshmark combines the human connection of physical shopping with the scale of e-commerce: users can like, comment, share, negotiate, and follow, and take part in themed online events called “Posh Parties.” In 2019, active users spent an average of 27 minutes a day on the platform, and 87% of purchases were preceded by a like, comment, or offer. The platform charges sellers 20% for sales of $15 and over and $2.95 for sales under $15, and buyers separately pay a shipping label fee. Lithuania’s VintedVintedVinted is a consumer-to-consumer (C2C) secondhand marketplace headquartered in Vilnius, Lithuania. Founded in 2008, it began with secondhand clothing and later expanded into categories such as electronics and collectibles, and built its own shipping (Vinted Go) and payments (Vinted Pay) businesses. In 2019 it became Lithuania’s first startup valued at more than €1 billion, and a secondary share sale in April 2026 corresponded to an equity valuation of €8 billion.Open the full entry also once used the same roughly 20% seller commission model as eBayeBayeBay Inc. is an online marketplace company headquartered in San Jose, California, United States, founded in 1995 by Pierre Omidyar; it started out with person-to-person online auctions and listed on Nasdaq in 1998. As of the end of 2025, it had 135 million active buyers, and its platform’s gross merchandise volume in 2025 was nearly $80 billion.Open the full entry and Poshmark in its early years.⁠[1][1][1][1][1][1][11]

Poshmark: Official website: https://poshmark.com/ (opens in a new window).⁠[2]