Poshmark, the second-hand online clothing market, published a stock and exchange commission file on Thursday.
In his presentation S1, Poshmark indicated the duration of his initial public contribution at $100 million. Typically, corporations mention fictitious figures in their IPO presentations until a diversity of value is established.
The e-commerce platform plans to include the “POSH” inventory symbol on the Nasdaq.
Revenue increased by 28% in the nine months ended September to approximately $193 million; this $150 million amount at the same time last year; profits increased to approximately $21 million during the same era, compared to a net loss of $34 million a year ago.
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The social shopping app allows users, known as “Poshers”, to buy and sell clothes and accessories. This includes everything from used T-shirts to antique dresses and personal labels. Auctions and the sale of products have even allowed some to earn six figures. benefit through its Poshmark stores.
The company’s IPO joins one of the new unicorn start-ups that have just made their inventory market debut, adding DoorDash and Airbnb, any of which have noticed massive post-IPO inventories in a record year of IPO, indicating the market’s point of interest in generation platforms.
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