Announced
Completed
Financials
Tags
Friendly
Majority
Acquisition
Single Bidder
Cross Border
E-commerce
Public
United States
e-commerce
Completed
Synopsis
Naver, an internet company, completed the acquisition of Poshmark, a social e-commerce marketplace for new and secondhand style, for $1.2bn. "We're thrilled to close the transaction and welcome Poshmark to the Naver family, creating the strongest platform for powering communities and re-fashioning commerce. I'm confident Naver's leading technology in search, AI recommendation, and e-commerce tools will enhance the user experience for the Poshmark community and create additional value for all our stakeholders. Naver and Poshmark will immediately be well-positioned to compete globally in the future and benefit from C2C as a major revenue source," Sooyeon Choi, Naver CEO.
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