Naver spends 2.34 trillion won to acquire the US version of Xianyu Poshmark


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Pinwan, October 5th, according to South Korea’s “Asia Daily” news, South Korea’s largest portal Naver announced that it will spend 2.3441 trillion won (approximately RMB 11.69868 billion) to acquire Poshmark, the largest second-hand trading e-commerce platform in North America. The platform is known as the American version of “Xianyu”. Naver’s representative, Cui Xiuyan, said that the acquisition will lay an important foundation for Naver to better understand the MZ generation in North America.

Naver acquired 100% of Poshmark’s shares at a price of $17.9 per share. The date of acquisition of the shares is April 4 next year. After the acquisition, Poshmark will be incorporated into Naver’s independently operated subsidiary.

Previously, Naver acquired Kream in Korea, Vintage City in Japan, Vestiaire Collective in Europe and other second-hand trading platforms, and continued to invest in fashion vertical platforms.

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