Another high profile IPO company gets taken private and we celebrate National Taco

Day with a closer look at your podelite.

Motley Fool Money starts now.

I'm Chris Hill joining me from the great state of North Carolina.

Motley Fool Senior analyst, Austin Charma.

Thanks for being here.

Chris, thank you for having me.

Poshmark, the online close retailer, is being acquired by Naver, which is an internet

company based in South Korea.

This is an all cash deal that values Poshmark at, let's call it $1.2 billion, which is

less than half of what the company was valued at when it went public of January of last

year.

When I saw this news, one of the first thoughts that went through my head was, well, it's

an acquisition and I think we've all thought for a while that we're going to see more acquisitions

in the coming months.

My second thought was, Naver is getting Poshmark at a deal.

They like this business and they like this price.

Yeah, it's a good business at the right price.

It wasn't the right price for shareholders who bought in last year.

That was a little bit harder to see, Chris, I think.

I looked at Poshmark's business model and several of its peers at that time and it seemed

like a market that was open for evolution.

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