About Poshmark
Poshmark is a company based in Redwood City (United States) founded in 2011 by Chetan Pungaliya and Manish Chandra was acquired by NAVER in October 2022.. Poshmark has raised $203 million across 6 funding rounds from investors including NAVER, Wellfound and Temasek. The company has 224 employees as of April 07, 2024. Poshmark has completed 2 acquisitions, including Suede One and TotSpot. Poshmark offers products and services including Poshmark App, Posh Authenticate, and Posh Parties. Poshmark operates in a competitive market with competitors including Nextdoor, Shareitt, Weqasa, SwapSwipe and DesAppGo, among others.
- Headquarter Redwood City, United States
- Employees 224 as on 07 Apr, 2024
- Founders Chetan Pungaliya, Manish Chandra
- Stage Public
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Poshmark India Private Limited
- Date of Incorporation 29 May, 2013
- Jurisdiction Delhi, Delhi, India
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Annual Revenue
$7.23 M (USD)38.75as on Mar 31, 2023
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Net Profit
$825.88 K (USD)31.71as on Mar 31, 2023
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EBITDA
$2.39 M (USD)201.8as on Mar 31, 2023
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Total Equity Funding
$203 M (USD)
in 6 rounds
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Latest Funding Round
$87.5 M (USD), Series E
Nov 14, 2017
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Investors
NAVER
& 11 more
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Employee Count
224
as on Apr 07, 2024
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Investments & Acquisitions
Suede One
& 1 more
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Acquired by
NAVER
(Oct 03, 2022)
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Products & Services of Poshmark
Poshmark offers a comprehensive portfolio of products and services, including Poshmark App, Posh Authenticate, and Posh Parties. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Mobile app for listing and purchasing resale items online
Free authentication and shipping for high-value items
Themed events to promote and discover listings
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Software Development Team
88 people
Sales and Marketing
26 people
Product Management Team
22 people
Data Analysis and Operations Team
19 people
Leadership Team
17 people
Seller Team
11 people
Operations Team
11 people
Senior Team
9 people
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Funding Insights of Poshmark
Poshmark has successfully raised a total of $203M across 6 strategic funding rounds. The most recent funding activity was a Series E round of $87.5 million completed in November 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series E — $87.5M
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First Round
First Round
(01 Feb 2011)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2017 | Amount | Series E - Poshmark | Valuation | Temasek | |
| Aug, 2017 | Amount | Series D - Poshmark | Valuation | Uncork Capital | |
| Apr, 2016 | Amount | Series C - Poshmark | Valuation | GGV Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Poshmark
Poshmark has secured backing from 12 investors, including venture fund and institutional investors. Prominent investors backing the company include NAVER, Wellfound and Temasek. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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An investment platform is provided for diverse sectors and geographies.
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Founded Year | Domain | Location | |
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Mayfield is focused on AI innovation and venture capital investments.
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Founded Year | Domain | Location | |
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Early-stage venture capital firm investing in AI, healthcare, and tech sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Poshmark
Poshmark has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Suede One and TotSpot. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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E-commerce support services are provided by Suede One to businesses.
|
2020 | ||||
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Kids' apparel is traded peer-to-peer via iOS app by parents.
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2014 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Poshmark
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Poshmark Comparisons
Competitors of Poshmark
Poshmark operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Nextdoor, Shareitt, Weqasa, SwapSwipe and DesAppGo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Neighborhood connections are facilitated via social networking and local e-commerce.
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| domain | founded_year | HQ Location |
Multi-category pre-owned products are offered via an app-based marketplace.
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| domain | founded_year | HQ Location |
Operates an app-based marketplace for buying and selling multi-category used products.
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| domain | founded_year | HQ Location |
An app-based marketplace for multi-category pre-used products, fostering community trading.
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| domain | founded_year | HQ Location |
Operates an app-based community marketplace for pre-used products across categories.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Poshmark
Frequently Asked Questions about Poshmark
When was Poshmark founded?
Poshmark was founded in 2011.
Where is Poshmark located?
Poshmark is headquartered in Redwood City, United States. It is registered at Redwood City, California, United States.
Who is the current CEO of Poshmark?
Manish Chandra is the current CEO of Poshmark. They have also founded this company.
Is Poshmark a funded company?
Poshmark is a funded company, having raised a total of $203M across 6 funding rounds to date. The company's 1st funding round was a Series C of $25M, raised on Feb 01, 2011.
How many employees does Poshmark have?
As of Apr 07, 2024, the latest employee count at Poshmark is 224.
What is the annual revenue of Poshmark?
Annual revenue of Poshmark is $7.23M as on Mar 31, 2023.
What does Poshmark do?
Poshmark was founded in 2011 and is headquartered in Redwood City, United States. The platform operates as a social marketplace focused on e-commerce for second-hand goods across categories such as fashion, beauty, and home decor from various brands. Transactions are facilitated through a mobile application available for both Android and iOS devices, enabling users to buy and sell items within a community-driven environment.
Who are the top competitors of Poshmark?
What products or services does Poshmark offer?
Poshmark offers Poshmark App, Posh Authenticate, and Posh Parties.
How many acquisitions has Poshmark made?
Who are Poshmark's investors?
Poshmark has 12 investors. Key investors include NAVER, Wellfound, Temasek, Mayfield, and Menlo Ventures.
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