Poshmark (POSH) : IPO and acquisition

Poshmark priced its initial public offering (IPO) at $42 per share on January 14, 2021, trading on the Nasdaq under the ticker symbol "POSH". 

 IPO Details

IPO Price: $42.00 per share (above the raised target range of $35–$39).
Opening and First-Day Trading: The stock opened at $97.50 and closed its first day up over 141% at $101.50 per share.
Initial Valuation: The offering gave the online resale marketplace an initial valuation of over $3 billion, which spiked past $7 billion based on its first-day closing price.
Capital Raised: The company raised approximately $277.2 million by offering 6.6 million shares of Class A common stock.

Subsequent Acquisition

Poshmark remained an independent public company for less than two years. In January 2023, South Korean internet giant Naver completed the acquisition of Poshmark in an all-cash deal valued at $17.90 per share, taking the company private at a valuation significantly below its IPO price.