The Tech M&A and Public M&A teams advised Poshmark, Inc. (Nasdaq: POSH) in its definitive agreement to be acquired by Naver Corporation. Under the terms of the definitive agreement, Naver will acquire Poshmark for $17.90 per share in an all-cash transaction that values Poshmark at an equity value of approximately $1.6 billion.
Poshmark is a leading social marketplace for new and secondhand style for women, men, kids, pets, home and more. By combining the human connection of physical shopping with the scale, ease, and selection benefits of e-commerce, Poshmark makes buying and selling simple, social, and sustainable. Its community of more than 80 million registered users across the U.S., Canada, Australia, and India is driving the future of commerce while promoting more sustainable consumption.
The Goodwin team was led by Anthony McCusker, Joshua Zachariah, and Jean Lee, and included Cynthia Li, Jeffrey Letalien, Jacqueline Klosek, James Riley, Benjamin Horwitz, Chris Chuang, Jinny Kim, Lynda Galligan, Monica Patel, Andre Amorim, Adrean Taylor, Bradley Stewart, Janet Andolina, Benjamin Gossels, Andrew Lacy, Simone Waterbury, Michael Casaburi, Brady Cummins, Deborah Birnbach, Richard Matheny, Carrie Miller, Katie Dee, and Ce (Charles) Li.
For additional details on the acquisition, please read the press release.