Love the DD. But as someone who is intimately familiar with Poshmark, I believe that management couldn't manage themselves out of a paper bag. You are spot on about the friction between them trying to become the instagram of reselling instead of pouring R&D into a decent algorithm instead of their stupid share based model.
Is it undervalued? Perhaps. But I don't have faith in the 11 year old "startup" (that's how amateurish their decision making feels).
Very compelling argument... the cynic in me would say that the 30min/day usage of the app is potentially more so due to the need to sort through so much junk but then again it's sort of a digitized version of the TJX treasure hunt so who knows.
I do think the renewed need for occasion based apparel is a really good catalyst to watch & potentially enough to breathe life into the rest of the platforms' offerings.
Love the DD. But as someone who is intimately familiar with Poshmark, I believe that management couldn't manage themselves out of a paper bag. You are spot on about the friction between them trying to become the instagram of reselling instead of pouring R&D into a decent algorithm instead of their stupid share based model.
Is it undervalued? Perhaps. But I don't have faith in the 11 year old "startup" (that's how amateurish their decision making feels).
Very compelling argument... the cynic in me would say that the 30min/day usage of the app is potentially more so due to the need to sort through so much junk but then again it's sort of a digitized version of the TJX treasure hunt so who knows.
I do think the renewed need for occasion based apparel is a really good catalyst to watch & potentially enough to breathe life into the rest of the platforms' offerings.
Naver got a good deal on this even at a market low point.