Cofounder and CEO Manish Chandra said the app was originally named GoshPosh before the founding team settled on Poshmark.
, an earlier version of Pinterest, to Hearst in 2007 for an undisclosed amount.
Chandra said he and his founding team struggled to convince investors that Poshmark could be a successful app that only lived on a user's mobile device. According to Chandra, multiple investors asked the team to develop a version that worked on a web browser or completely abandon mobile for more familiar territory. But the entrepreneur's track record was enough to convince Navin Chadda, managing partner at Mayfield fund.
Chadda ended up leading Poshmark's $3.5 million Series A in February 2011 that valued the company at $6.5 million. His conviction in Chandra and his team paid off: the company was recently valued at $625 million and will raise even more if the public offering goes as planned.
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