South Korea's Naver to Acquire Fashion Startup Poshmark in $1.2

Shares of South Korean internet giant Naver Corp. fell the most in seven years after the company agreed to buy online secondhand-fashion marketplace Poshmark Inc. in a deal valued at about $1.2 billion.

Poshmark being bought by Naver - all cash deal- so yay we get to lose money vs IPO stock purchases with no hope to gain it back. Way to go Poshmark. : r/BehindTheClosetDoor

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