Retail

Poshmark More Than Doubles In IPO, Pushing Valuation Above $7 Billion

6 days ago   |   By Forbes

The online marketplace for secondhand items made its public debut on Thursday.
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The Poshmark IPO just boosted CEO Manish Chandra's net worth to half a billion dollars. Serena Williams stands to gain, too

The Poshmark IPO just boosted CEO Manish Chandra's net worth to half a billion dollars. Serena Williams stands to gain, too

6 days ago   |   By Business Insider

Summary List Placement Online thrift platform Poshmark went public on the Nasdaq on January 14, opening at $97.50.
Cofounder and CEO Manish Chandra's 9.2% stake, which was disclosed in the company's S-1, is worth $585 million, including options exercisable within the next 60 days.
Poshmark declined to comment for this piece, citing the quiet period surrounding the IPO.
Tennis legend Serena Williams, who joined the board of directors in 2019, has options to buy $8 million worth of shares.
"I love working with a company that gives anyone an opportunity to become an entrepreneur," Williams...
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Poshmark's shares soar in debut to public markets

6 days ago   |   By Chron

NEW YORK - Shares of Poshmark soared in their debut trading in the public markets Thursday, a testament to the strength of the online marketplace for second-hand goods even during a pandemic.
The company, founded in 2011 by Manish Chandra, debuted on the Nasdaq Stock Market and is listed under the ticker “POSH.” Late Wednesday, the initial public offering of 6.6 million shares was priced at $42 a share, above an expected range of $35 to $39 a share.
The stock surged to $101.25, or 141% late Thursday morning.
Poshmark, based in Redwood City, California, is hitting the public markets as the...
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Poshmark prices IPO above range as public markets continue to YOLO startups

Poshmark prices IPO above range as public markets continue to YOLO startups

6 days ago   |   By Tech Crunch

Here we are again. Again.
Yes, it's another morning in which we have to discuss a venture-backed technology company going public at a price above its IPO range.
This time it's Poshmark, which priced its IPO at $42 per share last night, comfortably ahead of its $35 to $39 range that already greatly boosted the company's valuation. The consumer-to-consumer used fashion marketplace sold 6.6 million shares at its IPO price, raising a gross $277.2 million before other possible shares are sold.
The Exchange explores startups, markets and money. Read it every morning on Extra Crunch , or get The...
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