South Korean Internet Giant Buys Poshmark in $1.2 Billion Deal

With its new acquisition — the company’s largest to date — Naver has gained a sizable foothold in North America’s secondhand retail market.

The South Korean internet giant Naver has agreed to buy Poshmark, a popular secondhand retailer based in the United States, for $1.2 billion. It is Naver’s largest acquisition to date and a sign of the company’s broadening global ambitions.

Sometimes referred to as the “Google of South Korea,” Naver is a wide-ranging internet services provider that began as a search engine before expanding into email, messaging, news aggregation and e-commerce. Its website and suite of mobile apps are some of South Korea’s most popular.

Naver’s acquisition of Poshmark gives

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