Prognosis

Poshmark Soars in Debut After IPO Fetches $277 Million

Online marketplace has diluted value of about $8 billion
Poshmark IPO follows trading debut by consumer lender Affirm

Photographer: Rafael Henrique/SOPA Images/LightRocket/Getty Images

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By Crystal Tse, Katie Roof, and Jordyn Holman

January 13, 2021 at 10:11 PM UTC

Updated on

January 14, 2021 at 10:10 PM UTC

This article is for subscribers only.

Poshmark Inc., the online marketplace for second-hand goods, rose 142% in its trading debut after raising $277 million in an initial public offering priced above the marketed range.

Shares closed at $101.50 in New York trading Thursday, valuing the Redwood City, California-based company at about $8.5 billion on a fully diluted basis including options and restricted stock units. The company sold 6.6 million shares for $42 each Wednesday, after marketing them for $35 to $39.