| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
79 |
| Employees |
698 |
| Revenues (TTM) (Millions $) |
352 |
| Net Income (TTM) (Millions $) |
-74 |
| Cash Flow (TTM) (Millions $) |
-3 |
| Capital Exp. (TTM) (Millions $) |
2 |
Business Description
Poshmark Inc. is a leading online marketplace that specializes in fashion and lifestyle products, enabling sellers and buyers to connect and transact with ease. The platform was founded in 2011 by Manish Chandra, Tracy Sun, Gautam Golwala, and Chetan Pungaliya. The company is headquartered in Redwood City, California, and has a team of over 1,500 employees.
Poshmark is a mobile-first company, with over 60% of its transactions conducted via its mobile app, available on both iOS and Android devices. The platform allows individuals to buy and sell new or gently used clothing, accessories, shoes, beauty products, and home goods from one another. Poshmark supports a broad range of brands and product categories, ranging from luxury designer items to vintage and secondhand items.
The company has built a strong community-driven platform that fosters communication, sharing, and engagement between users. Poshmark hosts various events, such as Posh Parties, where individuals share their listings and shop each other's closets. Users can also follow one another, like and comment on listings, and share their favorite items across social media platforms.
Poshmark's payment system is secure and easy to use, with the company taking a 20% commission on every sale. The platform offers a flat-rate shipping label for purchases and provides free authentication for luxury items. Poshmark also provides various seller tools, including shipping labels and tips on how to optimize listings to increase visibility and sales.
In 2021, Poshmark went public on the Nasdaq Stock Exchange, raising $277 million in its initial public offering. The company has experienced consistent growth in its revenue, with its revenue increasing from $62.8 million in 2017 to $604 million in 2020.
Overall, Poshmark Inc. is a thriving online marketplace that has revolutionized the way individuals buy and sell fashion and lifestyle products, providing a user-friendly and community-driven platform, along with secure payment systems and useful seller tools.
Company Address: 203 Redwood Shores Parkway Redwood City 94065 CA
Company Phone Number: 262-4771 Stock Exchange / Ticker: NASDAQ POSH
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