Holding a public event during a time of mandated silence by the U.S. Securities and Exchange Commission can make for an awkward affair. Nonetheless, social resale platform Poshmark pressed on to hold its eighth annual conference for its community of sellers on Friday and Saturday.
The goal of PoshFest is to energize the community of “seller stylists” and showcase upcoming and recently launched features. But as the company dished on its latest tools, along the way it also wound up providing notable context for its upcoming initial public offering.
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As founder and chief executive officer Manish Chandra made clear, the company is in a state of constant development. And its moves over the past year have positioned the platform as a blend of some of the top retail trends of the moment. Beyond the company’s core premise of socially driven resale, it moved into short videos and doubled down on reselling, sustainability and intelligence-driven personalization and recommendations.
Poshmark may be a nine-year-old company, but it’s as if someone stirred together the current trends and just baked them to produce this platform.
A recent report from CB Insights may put a finer point on it. The “State of Retail Tech H1’20” examined investment momentum in the first half of the year, and found that investors are particularly keen on social commerce start-ups and resale platforms, among other areas, including businesses that can answer the elevated need for data connections across stores and online.
Now consider Poshmark’s offerings, as discussed at PoshFest: Its new “Just Picked” feature uses a machine learning, artificial intelligence engine to scan listings and match them to specific shoppers for personalized collections. This spring, the company introduced short video-driven Posh Stories, so sellers can demo products and engage people in new ways — whether that’s