Poshmark Buyout Offer Falls Well Below IPO Price: Analysts Call It Fair—Is It?

Poshmark Buyout Offer Falls Well Below IPO Price: Analysts Call It Fair—Is It?
South Korean businessman and founder of the Korean internet group Naver-Korelya, Hae-Jin Lee, poses for a photo session in Paris, on Oct. 19, 2017. Alain Jocard/AFP via Getty Images
Benzinga
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When South Korean tech giant Naver confirmed earlier this week that it would purchase Poshmark Inc. at $17.90 per share, many observers said the offer was fair.

Was it? After all, Poshmark—an Instagram-like site specializing in apparel resale—went public in 2021 at $42 a share. On Friday, it closed at $17.76.