Investors must have liked that effort—plus the fact that the company is set to double its revenue in just six months this quarter with a $200 million run rate in annual sales.
…They have no shortage of ideas: men’s and children’s is on the roadmap, and they’re also considering beauty, international expansion, and helping women launch their own retail brands using Poshmark.
…Now, 20 percent of sales is in-season new merchandise, and we want to get that number to 50 percent and beyond.”
…Mayfield Fund, Menlo Ventures, Inventus Capital, and SoftTech VC re-upped, and Union Grove Venture Partners and Shea Ventures joined the round, for a total of $47.2 million in funding to date. The company, which is also backed by celebs Rachel Zoe and actor Ashton Kutcher, also announced today that it’s launching an Apple Watch app.
…They now also have a website, but 95 percent of users favor mobile, and “mobile commerce is a given,” Sun says.
…“It was a huge decision,” Sun said, “but you need your team to live and breathe the vision and the innovation.”
…For the three years since it launched, Poshmark employees have logged serious miles to host ”Posh Parties” across the country, and users love it.
“We’re heading to New York next week for one of our bigger Posh Parties and promoting the Apple Watch app,” she said. … There are only so many cities the staff can visit, but we have a whole network of community-hosted parties happening across the country.”