{"id":137354,"date":"2020-12-18T19:33:48","date_gmt":"2020-12-18T16:33:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/poshmark-files-to-go-public-after-turning-profits-this-year\/"},"modified":"2020-12-18T19:33:48","modified_gmt":"2020-12-18T16:33:48","slug":"poshmark-files-to-go-public-after-turning-profits-this-year","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/poshmark-files-to-go-public-after-turning-profits-this-year\/","title":{"rendered":"#Poshmark files to go public after turning profits this year"},"content":{"rendered":"

“#Poshmark files to go public after turning profits this year<\/strong>”
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Fashion resale platform Poshmark is plotting an initial public offering after raking in its first profits this year.<\/p>\n

The nine-year-old startup said it\u2019s benefitted from the coronavirus-fueled boom in online shopping that\u2019s helped its 4.5 million active sellers supplement their income by selling clothes out of their own closets.<\/p>\n

Poshmark runs an online marketplace where its roughly 32 million active users can browse and buy clothes and accessories from others on the platform. The company takes a 20 percent cut of each sale worth at least $15 and charges a flat $2.95 fee for sales below that threshold.<\/p>\n

The business has grown significantly in recent years \u2014\u00a0Poshmark handled more than $1.1 billion worth of transactions last year, up from $491 million in 2017 and accounting for about a quarter of the $4 billion generated since 2011, according to its Thursday IPO prospectus<\/a>.<\/p>\n

The California-based company achieved profitability for the first time in the second quarter of this year and also ended the July-to-September quarter in the black, helping it swing to a nearly $21 million net profit in the first nine months of 2020 from a roughly $34 million loss in the same period last year, the filing shows.<\/p>\n

\u201cOur community provides both the supply and the demand on our social<\/a> marketplace, which is critical to our success,\u201d Poshmark said in the prospectus. \u201cWe are therefore focused on expanding the community and fostering the best environment possible for a seamless and enjoyable shopping experience.\u201d<\/p>\n

But Poshmark acknowledged that it could still take a hit from the COVID-19 crisis, which has weakened demand for fashion products despite accelerating the shift toward online shopping.<\/p>\n

\u201cResponses to the COVID-19 pandemic such as prolonged work-from-home policies, quarantines, closures, and travel<\/a> restrictions could continue to depress demand for the products sold on our platform,\u201d the prospectus says.<\/p>\n

Poshmark\u2019s planned debut on the Nasdaq\u00a0\u2014\u00a0where it wants to trade under the ticker symbol \u201cPOSH\u201d \u2014 would follow a string of massive tech IPOs this year.<\/p>\n

The company\u2019s prospectus came a week after food-delivery firm DoorDash and vacation-rental giant Airbnb raised billions of dollars in highly anticipated market debuts that sent their stock prices soaring.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Poshmark files to go public after turning profits this year” Fashion resale platform Poshmark is plotting an initial public offering after raking in its first profits this year. The nine-year-old startup said it\u2019s benefitted from the coronavirus-fueled boom in online shopping that\u2019s helped its 4.5 million active sellers supplement their income by selling clothes out…<\/p>\n","protected":false},"author":1,"featured_media":137355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/12\/poshmark-files-for-ipo.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[86955,5055,77891,70501,5007,70359],"class_list":["post-137354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-18-20","tag-apps","tag-e-commerce","tag-fashion","tag-ipo","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/137354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=137354"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/137354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/137355"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=137354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=137354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=137354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}