Poshmark


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

The company was launched in 2011 by Manish Chandra.
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.
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" 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."
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. Despite this news, Poshmark's official statement on the breach claims that "the data acquired does not include any financial or physical address information, and we do not believe your password was compromised. Regardless, we recommend that you change your password as a precaution and security best practice."