US-based online retailer Poshmark will delist from public markets: CEO Manish Chandra

A day after US online apparel resale platform Poshmark was acquired by South Korean tech firm Naver Corp, Poshmark chief executive officer (CEO) Manish Chandra sent out an email elaborating the contours of the deal, the rationale behind it, and a roadmap for the company.

“I believe this step will provide us with more resources and the flexibility of being a private company, strengthen our ability to serve our sellers and shoppers with new technology and world-class search capabilities, accelerate our live selling efforts, and leverage Naver’s significant resources and expertise to scale our community as it expands globally,” Chandra wrote in the email.