How Fashion Platform Poshmark Raised $87.5 Million
E-commerce continues to be the focal point of the retail industry. This year, e-commerce in the United States is estimated to surpass the $400 billion mark.
Poshmark is one of the largest social marketplaces for fashion, with over 2 million sellers using the site. Today it announced that it successfully raised $87.5 million in its Series D round of fundraising.
Manish Chandra, Founder and CEO of Poshmark, shares what he plans to use the capital for. He says that right now they are focused on continuing to expand the platform, but don't have any plans to go public quite yet.
Poshmark also announced new Amazon Alexa integration. Poshmark Stylist Match will connect users instantly with stylists on the platform.
Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, this is normal.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
