Bloomberg
Poshmark Inc, an online resale marketplace for second-hand clothing, said it has filed confidentially for an initial public offering. The number of shares and the price range for the IPO haven’t been determined, Poshmark said in a statement.
The Redwood City, California-based company had put off a potential IPO to focus on boosting sales and improving its execution, people familiar with the matter said last September.
Founded by Chief Executive Officer Manish Chandra, Poshmark provides a marketplace to buy and sell high-end clothing. The company’s website lets shoppers exchange comments on products, putting Poshmark at the forefront of the online shopping trend known as “social commerce.â€
The company announced in February 2019 that tennis champion Serena Williams was joining its board. The following June, it said it was expanding its marketplace to include home decor.
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