Poshmark is pushing into the public market at a high-end valuation as the resale market sizzles

Poshmark is pushing into the public market at a high-end valuation as the resale market sizzles

on Thursday
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https://techcrunch.com/2021/01/13/poshmark-is-pushing-into-the-public-market-at-a-high-end-valuation-as-the-resale-market-sizzles/

Poshmark, the nine-year-old, Redwood City Ca.-based online marketplace for second-hand clothing, beauty, and home decor products, is set to start trading as a public company on the Nasdaq tomorrow after pricing 6.6 million shares higher than originally planned, according to Bloomberg.

Per its report, the company, which originally planned to sell shares at between $35 and $39 million, saw enough demand to rationalize a $42-per-share price — one that values the company at $3.5 billion on a fully diluted basis.