Wednesday, September 25, 2019

Poshmark doubles sellers revenues from $1B to $2B in just one year

Fast Company
Across the internet, the resale market is blowing up. At the high end, platforms like TheRealReal and StockX are making it easier than ever to buy and sell luxury goods, while ThredUP has become the world’s largest online thrift store.

In the middle of the market, there’s Poshmark. Today, the eight-year-old company announces it has paid out $2 billion to its community of seven million sellers. And what’s even more surprising is that a year ago, the company hit its $1 billion milestone, meaning it has doubled revenues generated for sellers in a single year. It’s just another sign that the resale market is gaining speed.. . . more