M&A Deal Summary

Naver Acquires Poshmark

On October 3, 2022, Naver acquired internet software and services company Poshmark for 1.2B USD

Acquisition Highlights
  • This is Naver’s 4th transaction in the Internet Software and Services sector.
  • This is Naver’s largest (disclosed) transaction.
  • This is Naver’s 1st transaction in the United States.
  • This is Naver’s 1st transaction in California.

M&A Deal Summary

Date 2022-10-03
Target Poshmark
Sector Internet Software and Services
Buyer(s) Naver
Deal Type Add-on Acquisition
Deal Value 1.2B USD

Target

Poshmark

Redwood City, California, United States
Poshmark is a social marketplace for new and secondhand styles for women, men, kids, home, and more. Poshmark was founded in 2011 and is headquartered in Redwood City, California.

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Buyer(S) 1

Buyer

Naver

Seongnam, South Korea

Category Company
Founded 1999
Sector Internet Software and Services
Employees4,390
Revenue 9.67T KRW (2023)
DESCRIPTION

NAVER is an Internet company, operating the nation’s top search portal “Naver” (www.naver.com), Korea’s first online children’s portal “Jr. Naver” (jr.naver.com), and the nation’s first online donation portal “Happybean” (happybean.naver.com). NAVER was founded in 1999 and is based in Seongnam, South Korea.


DEAL STATS #
Overall 4 of 4
Sector (Internet Software and Services) 4 of 4
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-19 Wattpad

Toronto, Ontario, Canada

Wattpad is a platform to read and share stories on the web and mobile devices. Wattpad’s flagship app is a social storytelling platform, home to a community of more than 90 million people who spend over 23 billion minutes a month engaged in original stories. Wattpad was founded in 2006 and is based in Toronto, Ontario.

Buy $600M