When South Korean tech giant Naver confirmed earlier this week that it would purchase Poshmark Inc. at $17.90 per share, many observers said the offer was fair. Was it? After all, Poshmark—an Instagram-like site specializing in apparel resale—went public in 2021 at $42 a share. On Friday, it closed at $17.76. Here’s a look at…
Poshmark Buyout Offer Falls Well Below IPO Price: Analysts Call It Fair—Is It?
South Korea’s Naver Acquires US E-Commerce Platform Poshmark for $1.2 Billion
October 5, 2022
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South Korea’s internet giant Naver said Monday that it will acquire Poshmark, a U.S.-based social commerce platform, for $1.2 billion, including all of its issued and outstanding shares. Naver said that it would acquire each share of Poshmark for $17.90 in cash, a 15 percent premium over Poshmark’s Monday closing price. The enterprise value for…
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