U.S. markets closed
  • S&P 500

    3,443.12
    +16.20 (+0.47%)
     
  • Dow 30

    28,308.79
    +113.37 (+0.40%)
     
  • Nasdaq

    11,516.49
    +37.61 (+0.33%)
     
  • Russell 2000

    1,617.71
    +4.08 (+0.25%)
     
  • Crude Oil

    41.51
    +0.05 (+0.12%)
     
  • Gold

    1,914.70
    -0.70 (-0.04%)
     
  • Silver

    24.93
    -0.05 (-0.18%)
     
  • EUR/USD

    1.1832
    +0.0003 (+0.02%)
     
  • 10-Yr Bond

    0.7970
    +0.0360 (+4.73%)
     
  • GBP/USD

    1.2953
    +0.0006 (+0.05%)
     
  • USD/JPY

    105.4890
    +0.0190 (+0.02%)
     
  • BTC-USD

    11,910.83
    +853.83 (+7.72%)
     
  • CMC Crypto 200

    239.54
    +0.62 (+0.26%)
     
  • FTSE 100

    5,889.22
    +4.57 (+0.08%)
     
  • Nikkei 225

    23,567.04
    -104.09 (-0.44%)
     

Used-Clothing Platform Poshmark Says It Filed to Go Public

Michael Hytha
·1 min read

(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 Friday.

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.”

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.

Poshmark rival ThredUp Inc. is also pursuing an IPO, people familiar with the San Francisco-based company’s plans said in August. ThredUp’s IPO, targeted for early next year, could raise $200 million to $300 million, one of the people said.

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2020 Bloomberg L.P.