Market Updates
Poshmark Agrees to $1.2 Billion Deal with Korea's Naver
Scott Peters
04 Oct, 2022
New York City
Poshmark Inc soared 13.2% to $17.64 after the online retailer agreed to be acquired by South Korea-based Naver for $1.2 billion in an all-cash deal.
The operator of social commerce platform has a significant following among teenagers looking to sell used fashion and accessories items.
The agreed sale price represents a premium of 15% to Poshmark
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