POSH Stock Recent News

With Naver's support, Poshmark will pursue a broader international expansion strategy in the medium-term, including into other developed markets in Asia.

With its new acquisition — the company's largest to date — Naver has gained a sizable foothold in North America's secondhand retail market.

South Korean internet giant Naver is acquiring leading online resale platform Poshmark for $1.2 billion, the companies announced Monday.

Naver plans to buy new and used clothing market Poshmark, according to both companies on Monday (Oct. 3), a report from The Wall Street Journal said. The deal will go forward for $17.90 a share, or around $1.2 billion.

Online secondhand-fashion marketplace Poshmark Inc. has agreed to be bought by South Korean internet company Naver in a $1.2 billion deal, the two companies announced Monday.

The companies said the deal will deepen Naver's reach in online retail, while allowing Poshmark to expand into international markets.

Naver, the South Korean search giant, today announced it plans to acquire secondhand apparel marketplace Poshmark for $1.2 billion in cash. The deal values publicly-traded Poshmark's shares at $17.

South Korean tech firm Naver Corp said on Tuesday it plans to acquire $1.6 billion worth of shares in Proton Parent Inc, in order to acquire Poshmark Inc, a U.S. secondhand fashion platform, as a strategic investment to enter the U.S. market.

Shares of Poshmark are soaring after the company closed its best month on record.

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