© Reuters. US equity changes | Poshmark (POSH.US) has acquired the entire resale business
Zhitong Finance APP learned that South Korean search giant and popular social software parent company LINE Naver acquired Poshmark (POSH.US) for $ 1.2 billion, which shocked the apparel resale market. As of press time, Poshmark was up 13.29% to $ 17.64 in pre-market trading on Tuesday. The acquisition spurred gains across the resale industry, with shares of ThredUP (TDUP.US) up 5.06% in pre-market trading, Rent the Runway (RENT.US) up 5.02 % and RealReal (REAL.US) up 5.56%, Stitch Fix (SFIX.US) up 3.58%. Meanwhile, other e-commerce stocks also rose, including Wayfair (W.US) up 4.02% and Revolve Group (RVLV.US) up 2.98%.
Naver said the acquisition will expand and diversify its e-commerce platform, strengthen its community through a social network of young users around the world, and enable it to leverage global online fashion re-commerce and economic opportunities. sustainable.
