On Wednesday, Poshmark unveiled Posh Shows, a program designed for peer-to-peer livestream shopping on the platform.
The new tool will be available in the U.S. and Canada, after being beta tested since the fourth quarter of 2022. Posh Shows allows any user to livestream their closet’s items with a live auction. People without official Poshmark closet listings can also sign up and start listing pieces for sale in real-time. Over the years, the resale platform has added several UX features and programs to help sellers generate more store revenue. With over 100 million users on the platform currently, Poshmark wants to leverage real-time shopping to boost engagement and quicker sales.
Posh Shows’release comes months after the company, which went public in 2021, was acquired by South Korean tech giant Naver. The sale was completed in January, following Poshmark’s 2022 third quarter earnings release. During the third quarter, Poshmark’s total revenue increased 11% year-over-year, to $88.4 million; The quarterly adjusted EBITDA was $8.0 million, a decrease from $0.6 million in the third quarter of 2021.
Source: Glossy
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