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S.Korea's Naver buys U.S. Poshmark in $1.2 billion deal, invites skepticsm By Reuters
A screen displays the company logo for Poshmark Inc. during the company's IPO at the Nasdaq Market Site in Times Square in New York City, U.S., January 14, 2021. Naver, which is also South Korea's top search engine, will pay $17.90 cash for each Poshmark share and acquire all of its outstanding stock in a foray into the U.S. e-commerce market. The enterprise value of Poshmark is about $1.2 billion. Poshmark shares jumped 14% to $17.8 in after-hours trading on Monday. The market is skeptical about whether this is best timing. "The online market changes so quickly, not doing anything can mean losing long-term value," Naver's Choi said. " Source: Investing.com #Poshmark
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