*By Madison Alworth*
Poshmark, the online second-hand store, has turned selling your old duds into a billion-dollar business, helping more than 4 million people clean out their closets and switch up their wardrobes for some serious cash.
"Social selling has come of age," said Manish Chandra, the CEO of Poshmark, an online social marketplace that encourages its members to "embrace your weirdness."
Sellers use the platform to get rid of the fashions they no longer want and spread their style to buyers who comb the platforms for just the right look.
"They're curating from their own closets and boutiques, but also from other people's closets," said Chandra. "Every day we have 14 million items being curated, every single day. Over a hundred million dollars worth of inventory gets uploaded every week."
The digital thrift shop guarantees two-day priority shipping for a flat $6.49. For packages that exceed five pounds, added shipping costs are paid by the seller.
"Amazon is always going to be a company to be respected, but I think we've built a fairly unique model which plays in so many different ways to our strength," Chandra said.
For the full interview, [click here](https://cheddar.com/videos/poshmark-hits-new-milestone).
The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide.
Allies of Florida Gov. Ron DeSantis and Disney have reached a settlement agreement in a state court fight over how Walt Disney World is developed in the future.
Ahead of the WNBA season and in the midst of March Madness, New York Liberty CEO Keia Clarke discusses the team’s new deal with Barclays and bringing even more attention to women’s sports.
U.S. Nissan head Jérémie Papin joins from the New York International Auto Show to give a preview of what’s to come from the carmaker – including the 2025 Nissan Kicks.
Ed Mitzen, the CEO of Business for Good, explains how and why he’s giving back by funding businesses from marginalized entrepreneurs to push social change.
Dana D’Auria, co-CIO at Envestnet, breaks down how she’s expecting markets to perform as ‘cracks’ from the rate hike cycle slowly filter into the economy.
A large cargo ship lost power and issued a mayday call moments before it struck the Francis Scott Key Bridge early Tuesday, though it was still moving toward the span at a rapid speed.
