- Naver will acquire Poshmark for $17.90 per share in an all-cash deal that will value the online retailer at roughly $1.2 billion, the companies said Monday.
- Poshmark shares popped in extended trading.
The deal adds to recent consolidation in the secondhand clothing market. Etsy acquired fashion resale app Depop for $1.62 billion last year. Depop competes with Poshmark and other resale services like ThredUp.
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