Poshmark

Poshmark is a social marketplace for secondhand and new fashion, owned by Korea's Naver since January 2023. Listing is free; when an item sells, Poshmark keeps 20% of the price (a flat $2.95 under $15), the buyer pays a flat prepaid shipping label, and since 2024 sellers can also buy cost-per-click ads through Promoted Closet. FY2021 revenue — the last full year it reported as a public company — was $326.0M (+25%) on $1.8B of GMV; Naver does not disclose a standalone dollar total for later years.

Business Model Canvas
Poshmark
Research date: Oct 14, 2026
Evidence-backed · sources in companion brief

Key Partners

  • Independent sellers supply every item (FACT).
  • USPS — single U.S. shipping carrier (FACT).
  • AWS hosting; Braintree (PayPal) payments (FACT).
  • Naver — owner since Jan 5, 2023 (FACT).
  • Sister C2C apps — SODA, Wallapop (FACT, Naver).
  • Brands and boutiques sell via Brand Closets (FACT).

Key Activities

  • Personalized feeds, search and recommendations (FACT).
  • Social tools — shares, likes, offers, Posh Parties (FACT).
  • Prepaid shipping labels on every sale (FACT).
  • Posh Protect refunds and dispute handling (FACT).
  • Authentication for items $500+ (FACT, 10-K).
  • AI search push under Naver (FACT, 2026 call).

Key Resources

  • 150M+ community members (FACT, company-stated 2025).
  • $10B+ cumulative GMV since 2011 (FACT).
  • 7.6M Active Buyers at end of 2021 (FACT).
  • Social graph and listing data (FACT).
  • 750 full-time employees, end of 2021 (FACT).
  • Naver goodwill KRW 1,520.4B, 2025 (FACT).

Value Propositions

  • Free listing, pay only when an item sells (FACT).
  • Payment, labels and support handled (FACT).
  • Offers and bundles for value shoppers (FACT).
  • Social discovery — likes, shares, follows (FACT).
  • Secondhand = more sustainable fashion (FACT, company pitch).
  • Oct 2024 fee change reversed after sales fell (SECONDARY).

Customer Relationships

  • User-to-user chat, offers and follows (FACT).
  • Seller CRM — My Shoppers, Closet Insights (FACT).
  • Posh Protect buyer refunds (FACT).
  • 2021 buyer-cohort retention 104% (FACT).
  • 2021 seller-cohort retention 112% (FACT).
  • Seller backlash reversed 2024 fee change (SECONDARY).

Channels

  • iOS and Android apps plus web (FACT).
  • Sellers share listings to social networks (FACT).
  • Referral Posh Credits for new buyers (FACT).
  • Paid search, social and app-store ads (FACT).
  • Promoted Closet in-app placement (FACT).
  • U.S. and Canada focus after exiting other markets (SECONDARY).

Customer Segments

  • Value-seeking fashion buyers (FACT).
  • Casual sellers clearing closets (FACT).
  • Professional resellers and boutiques (FACT).
  • Brands via Brand Closets (FACT).
  • Apparel, home, beauty, pets, electronics (FACT).
  • Core markets — U.S. and Canada (SECONDARY).

Cost Structure

  • Cost of net revenue $51.9M FY2021 (FACT).
  • Marketing $142.7M FY2021, largest line (FACT).
  • R&D $58.7M; G&A $57.0M FY2021 (FACT).
  • Operations and support $56.7M FY2021 (FACT).
  • Stock-based comp $48.2M FY2021 (FACT).
  • Cost cuts under Naver, profit from 2024 (SECONDARY).

Revenue Streams

  • 20% commission on sales $15+ (FACT).
  • $2.95 flat on sales under $15 (FACT).
  • Shipping-label margin, 4% of FY2021 revenue (FACT).
  • Promoted Closet cost-per-click ads (FACT).
  • $326.0M revenue FY2021, +25% (FACT).
  • Q2 2026 revenue growth >40% (FACT, Naver).
Sources: sec.gov/Archives/edgar · navercorp.com/en/media · stockanalysis.com/quote/krx · stockanalysis.com/quote/krx · prnewswire.com/news-releases/poshmark-inc-announces-chief-executive-officer-transition-302525526.html · navercorp.com/api/article · techcrunch.com/2024/10 · sec.gov/Archives/edgar
Not affiliated with Poshmark.
BMC · Osterwalder 9-block · Oct 14, 2026