Online apparel reseller Poshmark files for IPO
Poshmark Inc. is looking to go public.
The online marketplace for used clothing and fashion accessories said it has filed confidentially for an initial public offering. The number of shares to be offered and the price range are yet to be determined.
The IPO is expected to start after the Securities and Exchange Commission completes its review process, subject to market conditions.
Based in Redwood City. Calif., Poshmark had been expected to go public last year, but the plans were delayed. In the company's second social commerce report, “2020: The Year of Social Shopping," Poshmark claimed 60 million members.
Poshmark’s plans to go public come as the market for online resale clothing is booming, and expected to more than double in the next five years.