Poshmark Founder and CEO Announces Departure

▼ Summary
– Poshmark founder Manish Chandra is stepping down as CEO, with executive chairman Namsun Kim appointed as his successor.
– Chandra founded Poshmark in 2011, leading it through an IPO, acquisition by Naver, and growth to 150 million users.
– Chandra will transition to a board member role after nearly 15 years as CEO.
– In a farewell email, Chandra thanked the Poshmark community for their trust, creativity, and role in the company’s success.
– Kim, who previously served as Naver’s president of investments, has been working with Chandra since early 2024 to ensure a smooth transition.
The fashion resale giant Poshmark is undergoing a major leadership change as founder Manish Chandra steps down from his CEO role after nearly 15 years at the helm. Namsun Kim, currently serving as executive chairman, will take over as the new chief executive effective immediately. This transition marks a significant moment for the company that revolutionized online secondhand shopping.
Chandra launched Poshmark in 2011 alongside three co-founders, operating initially from a Silicon Valley garage. His vision transformed the startup into an industry leader with 150 million registered users and a successful public listing before its acquisition by South Korean tech conglomerate Naver in 2022. The founder will remain involved as a board member, ensuring continuity during this leadership shift.
In a heartfelt message to the Poshmark community, Chandra reflected on his journey: “Building this company has been the most rewarding experience of my career. Our achievements weren’t mine alone – they belonged to every member who made our platform thrive. Your creativity and trust fueled our growth, and watching this community evolve has been my greatest inspiration.”
The incoming CEO brings extensive experience from his current role as Naver’s president of investments. Kim has been collaborating closely with Chandra since early this year to prepare for a seamless transition. His appointment signals Naver’s commitment to maintaining Poshmark’s unique culture while exploring new growth opportunities in the competitive resale market.
This leadership change comes at a pivotal time for the fashion resale industry, which continues to gain mainstream adoption. Poshmark’s established community platform and Naver’s technological resources position the company for its next phase of expansion under new leadership.
(Source: TechCrunch)