Poshmark

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Poshmark
company Edit this on Wikidata
IndustryE-commerce
Founded2011; 8 years ago (2011)
FoundersManish Chandra
Tracy Sun
Gautam Golwala
Chetan Pungaliya
HeadquartersRedwood Shores, CA USA
Websiteposhmark.com

Poshmark is a social commerce marketplace where people in the United States can buy and sell new or used clothing, shoes, and accessories. The company is headquartered in Redwood City, California.

History[edit]

The company was launched in 2011 by Manish Chandra.[1]

In November 2017, Poshmark announced that it had raised $87.5M in venture backed funding led by Singapore-based Temasek. Menlo Ventures, GGV Capital, Mayfield and others also participated. They have raised a total of $160M to date.[2]

In a May 22, 2018, interview with Reuters, Poshmark's CEO and founder, Manish Chandra, stated since Poshmark's launch sellers on the website had earned $1B selling clothing and accessories. Reuters reported that "much" of these earnings were "concentrated in a group of sellers making five, six and even seven figures"[3] though the company noted there were 4 million sellers on the service.

Previously, Reuters reported Poshmark had raised $87.5 million "at a valuation of nearly $600 million."[4]

On August 1, 2019, the company announced that it had been subject to a data breach impacting the personal and login information of its customers.[5]

References[edit]

  1. ^ Johns, Nikara; Johns, Nikara (January 16, 2018). "The 6 Best Online Consignment Shops You Need to Know".
  2. ^ "Poshmark raises $87.5 million for fashion resale marketplace".
  3. ^ Somerville , Heather (23 May 2018). "Online fashion marketplace Poshmark says its sellers have made $1 billion". Internet News. Reuters. Retrieved 10 February 2019.
  4. ^ Somerville, Heather (14 November 2017). "Online fashion startup Poshmark raises $87.5 million from Temasek". Reuters. Retrieved 10 February 2019.
  5. ^ Cox, Joseph (1 August 2019). "Clothing Resale Marketplace Poshmark Announces Data Breach". Vice Media. Retrieved 1 August 2019.