The chapter delves into the early shipping challenges faced by the company, adjustments made to shipping fees, and the development of Poshpost with USPS. It also discusses pivotal decisions during rapid growth, including partnering with PayPal's Braintree to address payment processor rejections and pausing marketing for infrastructure rebuilding. The narrative emphasizes resilience, adaptability, and expansion strategies towards sustaining and enhancing the business.
When the iPhone 4 was released in 2010, Manish Chandra was dazzled by its picture quality, and saw an opportunity for a new type of mobile marketplace. A year later, he and three co-founders launched Poshmark, a shopping app for second-hand clothes and accessories, meant to capture the feel of going thrifting with your friends. The online community grew quickly and vocally—when Poshmark raised shipping fees, users lobbied furiously to lower them, and won. The company faced many more growing pains before being acquired by the Naver Corporation for $1.2 billion in 2023. It now has over 100 million registered users around the world.
This episode was produced by Sam Paulson with music composed by Ramtin Arablouei.
It was edited by Neva Grant with research help from Katherine Sypher.
Our engineers were Robert Rodriguez and Josh Newell.
You can follow HIBT on Twitter & Instagram, and email us at hibt@id.wondery.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.