Poshmark is pushing into the public market at a high-end valuation as the resale market sizzles

Poshmark, the nine-year-old, Redwood City Ca.-based online marketplace for second-hand clothing, beauty, and home decor products, is set to start trading as a public company on the Nasdaq tomorrow after pricing 6.6 million shares higher than originally planned, according to Bloomberg.
Per its report, the company, which originally planned to sell shares at between $35 and $39 million, saw enough demand to rationalize a $42-per-share price — one that values the company at $3.5 billion on a fully diluted basis.
Given investors’ feverish embrace of all kinds of newly public consumer brands, including Airbnb, DoorDash and, to a more moderate degree, Wish (trading currently where it opened when it hit the market in mid-December), most anticipate smooth sailing for the company as it makes the move from private to publicly traded company.