Monday, December 5, 2022

South Korea’s Naver to buy U.S. e-commerce site Poshmark for $1.2 billion

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  • 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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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC

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