story, how a secondary action Poshmark- own clothing business entrepreneur shinnazardi joint $ 625 million comes from a bazaar.
51 On manish Chandra wearing exactly the same way, It comes from the application of former CEO of Silicon Valley engineer unworthy: It elegantly combines its Louis Vuitton-'s kamarsa and Tommy Bahama-'s shirt Adidas- it's NMD-. ყველა ეს ნივთი Banta-has purchased - social shopping app, that of San Tracy (Today its responsibility to expand into new markets), Gautam golvalasa (technical director) and pungalias with chetan (Engineering Director) founded. "My first job was on Intel- - semiconductors for designing databases, Today, the men and women's shoes sold in helping, - says Chandra. - only available in Silicon Valley, 30 So a year to travel ".
It is an increasingly lucrative journey - largely thanks to the Poshmark-, where Chandra is approximately 15% owned. Poshmark- was launched seven years ago, As an aid for women and men, extra wardrobe items to empty it and put the money to do. Briefly, Imagine a sort of eBay for clothing worn. Today more than a function of Poshmark-; It has its own wholesale market and has come shinnazardi entrepreneurs at the same, who are selling their clothing lines.
The company took such signs, who called on the phone. vitrinuli shopping experience has, Instead of the experience, what we get from the Amazon-, When you're looking for items to, to buy. People Poshmark- on each other's followers are Virtual Wardrobe, which are on sale in a full tansatsmlitaa (Plus often secondary wholesale clothing boutique items were purchased), and shared some interesting things for them. This 40-million social network - your friends and influential figures staffed, As Instagram- found or found Pinterest-. The difference is, that everything, Poshmark- what you see, for sale.
this 40 million consumers around 5 million, or 12.5%, The application of the sellers are. Redwood City (California) based Poshmark-'s no inventory has; users with each other directly sell items. Etsy- and eBay-'s style, application antrepreniorta small group of drag, who began a professional trading businesses Poshmark- gadamqidvelebisa If fashion enthusiasts as, to create their own clothing labels. Poshmark- on each sale of the 20% of the, His income is, According to forecasts, 2018-the $140 million to achieve. Company, with more than 300 employees and another 100 going to rent, So far armogebiania, The new categories (for example, man's clothes and makeup) and thorough international expansion is concentrated. recently $625 million was estimated Poshmark- $160 million raised venture funding, while 2017's 70% increase in income during the (It is in line with its growth in 2016 to 2017 years) company Forbes-The next billion-dollar start-ups won a place in the ranking.
Poshmark- found only in the shallow portions of the US $ 600 billion market for e-commerce, But the demand for discount clothing ushvelebelia. According to the National Retail Federation-, Offline, Nine out of ten items pasdaklebata buyer buys stores, 75% specifically looking for the discounted clothes. In light of the, onlainvachroba that almost every quarter $4 billion increase, Chandra believes, that, finally, the time has come for his idea, Social shopping is the creation of a network.
Chandra first startup, 2005 On his first attempt was found Kaboodle-, sotsialurisa and combine their shopping. During the start-dropping theme of home decorations. This so-called. ,,dabukmarkebis "Website, the browser earlier popular, lets people giving, Links to the items to store up, who wanted to buy the, and friends to share. Kaboodle- was moderately successful;: 2017-the, As is known, Chandra's $30 Hearst- million sold. But true social shopping arrival… Social networks for masobrivobis.
Poshmark- Chandra's next idea was - the idea, which is based on faith in popular culture enthusiast amateurs, The new fashion is not exactly the type of best brands, but runs khalkhzeve. "I, 51 year old man, Perhaps more upon the pulse of popular culture at hand, than many imagined, - says Chandra. - I can, Drake-'s latest song strings tell, But you can not say anything, If what is happening now in the production of software in the field of ".
Despite this, Chandra's career began in the manufacturing software. He grew up in India, First 15 Years spent in a nomad - judge father's career moves 2-3 Once a year the housing changed. Elite Indian College, Institute of Technology Kanpur-ში, decided to study computer science and was the last student, who received the group. Master's in Austin, University of Texas- made and some Mexican folk dance was kidnapped. 1989-the, after graduation, Intel- ended up in - to work on databases. spent a year there, then north to California and worked with the startup of several databases 1995 In the UC Berkeley- M.B.A.-'s degree took.
daughter in kindergarten across pungalias, with whom he had been one of the startup work, So, He shared the idea Kaboodle-. The duet of the third co-founder added, engineering to provide assistance, each to the business $10,000 Kaboodle- heavily and found the swing from the Chandra Garage (At Chandra returned to the garage, When Poshmark-'s launch). It took some time was ripe Kaboodle-. Investors appeared to be more easily sell to the fi Poshmark-, anyway, To. ,,This trip was different for my reputation, and the fact, One of the startups have been successfully sold. The company does not exist, Investors drew up the terms of a document that, - says Chandra.
Since the establishment of the company - from 2011 - onwards, Chandra individual buyers and sellers wanted to focus on, be they mothers or from the middle of the Western States Los Angeles Fashion stylists. Spinal wind was blowing in his favor in the market. Poshmark- was dealing with only one application is launched at a time iPhone-, When the cell phone cameras and computers began to replace. and, The, a few years after the recession people are looking for ways to earn pocket money.
Poshmark- and other cohort of startups, such as luxury goods and secondary market resellers RealReal- found ThredUp- Ia, tried this change in consumer sentiment in its favor. Both rival digital path: People leaving their belongings and their money from selling online. then, When ThredUp- RealReal- and found herself fixing and selling pastsarmoebisa, Poshmark- found eBay-'s path and gave individuals the opportunity to dispose of this process. "It's a completely different user", - ThredUp- says founder and CEO James rainharti.
Poshmark-'s insignia was not so much to create a social network around your acquaintances, but around them, Whose style do you like fashionable. People edevnebian each other and shared the items for sale, which, their opinion, They command the attention of followers. daily application "fashionable cocktails" (“posh party”) enabling users, specific topic, for example, only the length of the shoe or ginger school graduation banquet dresses around, to search. Every item offered for sale by the comment section, And any person to ask,; also, buyers can, ask sellers, the latter wardrobe of different styles to combine them.
E-commerce giants of the majority of the search based on shopping, But in real life people do not necessarily have to be buying items; They shop for viewing or ask friends, Where to buy this or that beautiful clothes, will wear. "Amazon- and Alibaba exclusive game, participants do not need to be, - says the managing partner of GGV Capital- and as he Poshmark-, Well Alibaba-'s Investor Hans Tang. - based on the discovery of the best way of shopping, The two stood out among ".
2012-The company 1,000 Users had, But these people a lot of time spent on the app - day, at least, seven times and opened, Overall, 20-25 minutes were spent on it. People are still the same amount of time people spend on Poshmark-, But today, Obviously, The number of hits in the millions. Such rapid growth, the company was almost killed in 2013, When one year Tenfold growth. Now, After adapting the appropriate servers, Chandra technical challenges are less worried… He is more interested, enough to attract buyers and sellers and eBay-'s rivals.
entrepreneur, like, for example, Susan kenonia, Poshmark-'s growth and the concomitant effect of the keys to the company's future. this 39 year-old woman from geinzvili (Texas) The application of his clothes used to sell it began in December 2012. When the personal wardrobe moilia, wholesale purchase and resale of clothing began. Then, business partner, Kröger with Tiffany, own brand of clothing, Infinity Raine-ი, and launched, Poshmark-'s wholesale market through, Application for other vendors began selling clothing. six years later, April, Keno has become the first vendor to Poshmark-, its total sales $1 million, So, May, with a partner, The first physical store opened in geinzvil. "Indeed, the gift, So everything came out, The, Just because they both started, that their clothes to get rid of wanted ", - says Keno.
Poshmark-'s the next step to a more substantial expansion of men's clothes, Baby clothes, large size and luxuries. One in five people are already. The, The company has installed an eye on new markets, like make-up and home decoration. ,,Poshmark-'s social commerce platform, we believe, Let the leg cradled, - says Chandra, - but fashion is not the only place, where we will stop ".