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.

More In Business

Perjury Charges Could Face Man Who Falsely Claimed to Invent Bitcoin

Perjury charges in London could soon face a man who falsely claimed to be the mysterious creator of the bitcoin cryptocurrency.

Retail Sales Steady in June from May, Showing Shoppers’ Resilience

Shoppers paused their spending in June from May, defying economic forecasts for a pullback and proving their resilience.

Celebrities and Influencers are Getting $2,000 MRI Scans. Should You?

Celebrities and influencers are helping promote high-tech medical scans that companies claim can help catch deadly diseases, including cancer.

Powell says Fed is More Confident Inflation is Slowing

Chair Jerome Powell said the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target.

Amazon Prime Day Deals Start July 16

July sales events have become a seasonal revenue driver for the retail industry since Amazon launched its first Prime Day in 2015.

Trump Media Shares Surge After Assassination Attempt

Trump Media surged in the first day of trading following an assassination attempt on former President Donald Trump.

Surfer Kelly Slater Drops In On Skincare With ‘Freaks of Nature’

Freaks of Nature offers sustainable skincare for outdoor athletes, focusing on performance and eco-consciousness with innovative formulations and packaging.

Fed Maintains Rates Amid Inflation, Economic Concerns Persist

The Fed maintained the 5.25-5.5% rate in May 2024 due to persistent inflation and a tight labor market amid public concerns about financial futures.

Is Co-Ownership The Solution To The Frozen Housing Market Dilemma?

The Q3 2024 housing market saw high prices, stable mortgage rates, and low inventory, driving competition, and record median home prices of $419,300.

JPMorgan Profits Jump In Q2 On Higher Interest Rates, Visa Shares

JPMorgan Chase says profits jumped sharply ias the bank cashed in billions of dollars of its holdings in Visa Inc., also helped by higher interest rates.

Load More