Naver Corp, the Korean internet and search giant, announced it will acquire Poshmark, the well-known social e-commerce marketplace for new and used fashion, at an enterprise value of roughly $1.2 billion. Per Choi Soo-Yeon, Naver’s CEO, “The combination will create the strongest platform for powering communities and re-fashioning commerce. Poshmark is a natural fit for our business…Bringing Naver and Poshmark together will immediately put us at the forefront of creating a new, socially responsible, and sustainable shopping experience designed around sellers of all sizes and interests”.
Naver to Acquire Poshmark
