Poshmark, Inc. Continues International Expansion with Australia Launch

REDWOOD CITY, Calf., Feb. 16, 2021 /PRNewswire/ -- Poshmark (NASDAQ: POSH), a leading social marketplace for new and secondhand style for women, men, kids, pets, home and more, today announced it will be available to Australians who are looking for a more social and sustainable way to shop, sell and connect. The move is part of Poshmark's strategy to drive long-term growth through international expansion, starting with English-speaking countries. Poshmark Australia is another step towards the company's mission to create a truly global social marketplace that puts people at the heart of commerce, empowering everyone to thrive.

Beginning today at 2 p.m. Pacific Time, Australians will be able to join the Poshmark community and start selling and buying from fellow Australians, while also having the opportunity to engage with Poshmark's existing community of 70 million users across the U.S. and Canada via the app or web. In addition, Poshmark offers a number of community-hosted virtual events to create and foster social connection, including Posh N Sip, Posh N Coffee and Posh N List. These one-of-a-kind social gatherings and educational events are designed to help Poshmark's community network and grow their businesses.

"We are excited to bring our social marketplace to Australia, extending Poshmark's simple, social and sustainable shopping and selling experience across the globe," said Manish Chandra, founder & CEO of Poshmark. "Poshmark's community has only become stronger and more dynamic as it has grown and we are thrilled to welcome Aussies to join us as we shape the future of shopping, together. Today's launch is only the beginning and we look forward to building a thriving and successful community in Australia."

Poshmark makes it simple and easy for anyone to sell, enabled by a full suite of end-to-end seller tools and services, including seamless listing, merchandising, promotion, pricing, and shipping. From casual sellers looking to clear out their closets to entrepreneurs building small businesses, anyone will be able to leverage Poshmark's innovative social selling features to connect with buyers and grow their sales. These tools include Posh Parties, Posh Stories, and Reposh, which makes it easy to re-circulate items bought on Poshmark in just one click. In 2019, 87 percent of items purchased on Poshmark were preceded by a social interaction (like, comment, or offer).

Buyers will discover a more engaging, interactive and social shopping experience that's curated and personalized by Poshmark's seller community. In addition to Poshmark's buyer protection and authentication services, Australian community members will benefit from PoshPost, Poshmark's easy and integrated shipping service.

In May 2019, Poshmark launched in Canada, the company's first market expansion outside of the U.S., growing its community to more than 1.4 million active users within the first year. Last week, the company announced it has expanded into the Pets category and in 2020 it launched Beauty. Poshmark's scalable model and infrastructure enables continued strategic expansion in the future, serving a multitude of countries and categories over time.

About Poshmark, Inc.:
Poshmark is a leading social marketplace for new and secondhand style for women, men, kids, pets, home, and more. By combining the human connection of physical shopping with the scale, ease, and selection benefits of ecommerce, Poshmark makes buying and selling simple, social, and sustainable. Its community of more than 70 million registered users across the U.S., Canada, and now Australia, is driving the future of commerce while promoting more sustainable consumption. For more information, please visit www.poshmark.com.au, and for company news and announcements, please visit investors.poshmark.com. You can also find Poshmark on Instagram, Facebook, Twitter, TikTok, Pinterest, and YouTube.

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