Poshmark is preparing for an initial public offering (IPO) after sending a filing off to the U.S. Securities and Exchange Commission (SEC) last week.
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Here’s what potential investors in POSH stock need to know ahead of time.
- Poshmark is planning to list its Class A shares of common stick on the Nasdaq Exchange.
- It will do so under the POSH stock ticker.
- Poshmark has yet to determine the number of shares in the IPO.
- The same is also true for the price range of POSH stock in the offering.
- Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and Barclays Capital Inc. are the lead book-running managers of the Poshmark IPO.
- Book-running managers include Stifel, Nicolaus & Company, Incorporated, William Blair & Company, L.L.C, Raymond James & Associates, Inc., Cowen and Company, LLC, and JMP Securities LLC.”
- Poshmark is an e-commerce website with a focus on selling new and used luxury fashion products.
- That includes goods for women, kids, and men, as well as home décor.
- It also has a section dedicated to beauty and wellness products.
- The website allows users to buy and sell products on it.
- It also lets them hold virtual shopping parties.
- There are currently 70 million users of the website in the U.S. and Canada.
- It’s also worth noting that there have been more than 200 million items sold on the website.
- Poshmark was founded in 2011 by CEO Manish Chandra.
- Prior to creating the e-commerce company, Chandra was the founder and CEO of Kaboodle.
- Kaboodle was acquired by Hearst Corporation in 2007 and Chandra continued to serve as its CEO into 2010 before leaving the company.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
