Document Analysis NLP IA
FREQ, RAKE or TFIDF
Summary (IA Generated)
Poshmark, the nine-year-old, Redwood City Ca.
What it has going for it: More than 70 million Poshmark users having sold more than 130 million items through the platform since its inception, according to the company.
Poshmark makes money off commissions on peer-to-peer sales and on products that it sells sold via wholesale and the company turned profitable last year for the first time Specifically, according to its S-1, it produced net income of $21 million off revenue of $193 million during the nine months ended September 30, 2020, compared with a net loss of $34 million on revenue of $150 million during the same period in 2019.
What Poshmark is going up against: making public market investors understand how it differs from already publicly traded rivals like The RealReal, which went public in 2019 and whose current market cap is roughly $2.
For example, another company set to go public (unless it gets SPAC’d) is ThredUp, which filed a confidential registration statement with the SEC for an IPO last fall around the same time that Poshmark did this.
Unlike The RealReal, which is focused exclusively on high-end luxury goods that it authenticates, Poshmark and ThredUp make accessible a wider range of more affordable items and compete more directly.
Further, while investors are excited about the many companies that are finally beginning to trade publicly, companies like Poshmark are competing for mindshare with other newer entrants.