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Poshmark Resale Site Acquired In Billion-Dollar Deal

U.S. online resale site Poshmark has been acquired by South Korean internet giant Naver Corp. in an all-cash deal valued at approximately $1.2 billion or $17.90 per share. “The deal comes as online sales of secondhand goods continue to surge," per Chain Stores Age. “The market is expected to grow by 20% annually to $130 billion by 2025, according to Activate Consulting.”

Read the whole story at Chain Store Age »

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