Poshmark prices IPO above range as public markets continue to YOLO startups

Here we are again. Again. Yes, it’s another morning in which we have to discuss a venture-backed technology company going public at a price above its IPO range. This time it’s Poshmark, which priced its IPO at $42 per share last night, comfortably ahead of that already greatly boosted the company’s valuation. The consumer-to-consumer used fashion marketplace sold 6.6 million shares at its IPO price, raising a gross $277.2 million before other possible shares are sold. The Exchange explores st...
Tags: TC, Ecommerce, Tech, Affirm, Exchange, Poshmark, The Exchange

Poshmark surges 150% on its first day of trading after $277 million IPO

Rafael Henrique/SOPA Images/LightRocket via Getty Images Poshmark soared as much as 150% on Thursday after going public Wednesday The online marketplace for second-hand goods raised $277 million IPO Wednesday, selling 6.6 million shares for $42 apiece. Poshmark's leap continues the trend of massive investor demand for IPOs and SPACs, the company trades under the ticker "POSH" on the Nasdaq Global Select Market. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.  Pos...
Tags: Ecommerce, Ipo, US, Trends, Markets, Paypal, Stocks, Stock Market, Max Levchin, SPAC, Redwood, Poshmark, Tech Stocks, Morgan Stanley Goldman Sachs Group Inc, Rafael Henrique SOPA Images LightRocket, Ipo 2021

Extra Crunch roundup: Antitrust jitters, SPAC odyssey, white-hot IPOs, more

Some time ago, I gave up on the idea of finding a thread that connects each story in the weekly Extra Crunch roundup; there are no unified theories of technology news. The stories that left the deepest impression were related to two news pegs that dominated the week — Visa and Plaid calling off their $5.3 billion acquisition agreement, and sizzling-hot IPOs for Affirm and Poshmark. Watching Plaid and Visa sing “Let’s Call The Whole Thing Off” in harmony after the U.S. Department of Justice filed...
Tags: Startups, TC, Ecommerce, Hardware, Enterprise, Finance, Digital, Billie, Tech, Cannabis, SaaS, Venture Capital, Private Equity, Harry, Olympus, Payments

The Secret Behind NTWRK CEO’s Success: Asking for Forgiveness

The success of Aaron Levant's mobile-first video shopping platform NTWRK that launched in 2018 may have taken the retail industry by storm, but for those familiar with the NTWRK CEO's entrepreneurial spirit, this was simply another notch under his business-owning belt. The mastermind and investor behind numerous successful ventures like Truff Hot Sauce and Agenda...
Tags: Ecommerce, Advertising, Innovators, Aaron Levant

Ikea’s New U.S. App Bridges At-Home and In-Store Shopping

Ikea is investing in digital. This week, the Swedish home furnishings retailer introduced a new app for the U.S. market. The app allows customers access to their digital Ikea Family card to pay for purchases and request either home delivery or curbside pickup, while also providing product recommendations for inspiration. "At Ikea, we are on...
Tags: Mobile, Ecommerce, Digital Transformation, Advertising, Customer Experience, Ikea, Ikea Family

Marc Lore leaves Walmart a little over four years after selling for $3B

Marc Lore, the executive vice president, president and CEO of U.S. e-commerce for Walmart, is stepping down a little over four years after selling his e-commerce company to the country’s largest retailer for $3 billion. Lore’s tenure at the company was a mixed bag. Walmart instituted several new technology initiatives under Lore’s tenure, but the service was shuttered last May and other initiatives from Lore, like an option to have customers order items via text, was also a money...
Tags: TC, Ecommerce, US, Linkedin, Tech, Walmart, E-commerce, United States, Alaska, Retailers, Financial Services, Marc Lore,, Lore, Ribbit Capital, John Furner

Inside Marc Lore’s Walmart Legacy

Marc Lore, the ecommerce pioneer who figured out how to ship cat litter without a loss and lured customers with discounts even Amazon doesn't offer, is leaving Walmart at the end the month. According to an 8-K filing with the SEC, Lore's last day as president and CEO of Walmart U.S. ecommerce is January 31,...
Tags: Amazon, Ecommerce, Advertising, Walmart, Marc Lore, Walmart U S eCommerce, Walmart Legacy, SEC Lore

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