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Ecommerce

Poshmark Set to Join IPO Boom [Video]

Poshmark Inc., the online marketplace for secondhand goods, will start trading Thursday, the latest e-commerce site to tap the buoyant initial public offering market as the coronavirus pandemic continues to squeeze bricks-and-mortar stores.

Poshmark said it priced its IPO at $42 a share, giving the company an initial valuation of more than $3 billion. The shares priced above the target range of $35 to $39. The business was valued at $1.25 billion in 2019. Poshmark declined to comment, citing a regulatory quiet period ahead of its IPO.

A number of digital marketplaces, including Poshmark, reported more people selling goods in spring 2020 as a way to generate extra income and stave off boredom during widespread lockdowns. Poshmark sellers list everything from $17 reusable Starbucks cups to $3,000 Louis Vuitton handbags. While many traditional apparel companies struggled to survive, Poshmark was profitable for the first time in its 10-year history in the quarter ended June 30.

The company, based in Redwood City, Calif., follows ContextLogic Inc., the …

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Ecommerce

Walmart E-commerce Boss Marc Lore to Leave [Video]

The Jet.com founder joined Walmart in 2016 after it bought his startup and pushed the bricks-and-mortar giant to ramp up its online offerings.

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Ecommerce

American entrepreneur Rachel Tipograph is the co-founder of MikMak, one of the fastest-growing woman-led startups of 2020-21.

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Ecommerce

Former Bachelorette Angie Kent and her Gogglebox partner Yvie Jones star in Ebay’s latest ad, which sees Kent video chat Jones for advice on which clothing items to buy from the platform. CHE Proximity, which was appointed to Ebay’s creative roster a year ago, and 72 And Sunny were not involved with the campaign, which […]