Poshmark

“And it turned out that in the first two months, it was an extremely successful product. And we just grew Three to five acts in two months.”

“And we cut down growth by taking our marketing and bringing it down pretty close to zero for almost a year before we restarted it while we rebuild the infrastructure. The hard part was that this year of no growth Ultimately meant that to get a real funding rou…”

“It ended up that men became after women, the fastest growing category. And the way men shop was great for our women sellers because they are faster shoppers.”

“We launched the app with five dollar shipping at that time, and our cost of shipping was turning out to be 10 dollars and 50 cents on an average. And so we were basically losing money left and right on every order.”

“Just adding that sales tax caused the transaction volume to drop, the business growth to slow down, and everything sort of moved down. Derailed our IPO. We could no longer be a public company because we didn't know what was happening at that time, you know. Li…”

“Today it's 2024, our take rate is still 20%, and our shipping is seven 97.”

“I think we had like a hundred users in the first day. It was all through PR, and, you know, we got an article in a pub at that time, which was very popular, called Refinery 29. We had a couple of articles in San Francisco Chronicle, print, and we started to se…”

“And then by March 31st, we actually had our first net EBITDA profitable month. So we hit profitability a year ahead.”

“And their vision is that they believe the space can be an independent company in the future. So they want to, they want me to grow this company and at some point in the future, make it an independent public company owned by neighbor, but also a public. So the …”