Poshmark on track to double revenue in 2017

Poshmark, a free app that can be used by anyone to buy, sell, or trade unwanted clothes, has just announced that they’re scheduled to generate $100 million in revenue this year, according to this article.

This is a huge accomplishment for an app of this type because they typically have a harder time surviving and thriving than other apps due to an insufficient amount of users.  Poshmark sets itself apart from the rest of the startups by doubling as a fun social network and not buying any inventory.  Instead, they profit by taking a 20% cut from each sale.

I have been using Poshmark for years after hearing about it from a friend, who had traded an unwanted pair of shoes for a brand new, name brand purse.  Since then, I’ve sold a handful of my own items and found tons of designer clothing for a highly discounted price.  If you’re like me and always buy things that end up sitting in your closet for a year with the tag still on, I suggest you check it out and help this app reach its goals and stay afloat!

“One man’s trash is another man’s treasure.”  – English Proverb

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