Naver completed the acquisition of Poshmark for $1.2bn.

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.