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Korea's Naver Buys Poshmark For Less Than Half Its IPO Price, But Market Is Questioning

Benzinga

Korea-based internet company, Naver Corp , has agreed to acquire Poshmark Inc (NASDAQ: POSH ) for $17.90 The value represents a premium of 15% to Poshmark's closing stock price as of October 3, 2022. Poshmark is a social e-commerce marketplace for new and secondhand styles.

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Why Poshmark Shares Are Popping Tuesday

Benzinga

Poshmark Inc (NASDAQ: POSH ) shares are trading higher Tuesday after the company announced it will be acquired by Naver. Poshmark has entered into a definitive agreement with Naver in which Naver will acquire all of the outstanding shares of Poshmark for $17.90 Full story available on Benzinga.com.

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Poshmark Buyout Offer Falls Well Below IPO Price: Analysts Call It Fair — Is It?

Benzinga

When South Korean tech giant Naver confirmed earlier this week that it would purchase Poshmark Inc. After all, Poshmark — an Instagram-like site specializing in apparel resale — went public in 2021 at $42 a share. Here's a look at why the Redwood City, California-based company plummeted in value.