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Corner Office from Marketplace

Poshmark’s Manish Chandra talks resale at scale

Corner Office from Marketplace

Marketplace

News, Business

4.8545 Ratings

🗓️ 11 July 2019

⏱️ 12 minutes

🧾️ Download transcript

Summary

Poshmark is an app where you can either buy items from other users or try to sell unwanted items like clothes, handbags, shoes, or home decor. Think of eBay, but with more social aspects where people could follow each other’s “closets,” and comment or share the listings they like. It started bak in 2011, and has grown to 50 million users and paid out more than a billion dollars to sellers. We talked with CEO Manish Chandra about his fashion magazine background, this year’s decluttering trend and how he kept the company from growing too fast.

Transcript

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0:00.0

Hey, everybody, it's Kyle Resdahl. Thanks for downloading the Corner Office podcast. Another episode for you today, as you can tell, because you're listening to it. This time I'm talking to Manish Chandra. He's the co-founder and CEO of Posh Markets, an app where users can buy and sell new and used fashion, clothes and handbags, shoes, all that stuff,

0:22.5

and where people can socialize with each other while they're doing it by liking and commenting on listings and sharing the other seller's closets or profiles.

0:30.7

Anyway, Mani Shandra came by our studios the other day to chat more about it.

0:34.7

We're expecting you.

0:36.1

Won't you have a seat?

0:37.2

Ready to go to work? Mani Shandra, thanks for coming in. Thanks for having me. Those who might not be familiar with Poshmark, give them the 30-second elevator pitch. Poshmark is a social marketplace. We make it easy to buy and sell fashion and now home decor. Oh, you're brand. That's interesting.

0:55.5

Home decor. That's a gutsy move. All right. So that actually goes to the next question, which is fashion can be hard, right? Because you want to see things and touch them and feel them. Same with home decor. You're going to have it in your house. You want to know what it's going to look like. how do you overcome, first of all, that obstacle of doing all this online?

1:13.5

Well, two things. One is... you want to know what it's going to look like. How do you overcome, first of all, that obstacle of

1:11.1

doing all this online? Well, two things. One is we built the product from grounds up for your mobile

1:18.2

phone, and so that makes it very easy to communicate, share pictures, and sort of just talk to each other.

1:24.7

And second is, we built it around a social model. So there's a whole community

1:28.4

underneath Pashmark where you can ask questions, which is actually surprisingly missing in

1:33.0

physical stores today. Well, that's totally true. Why or how did you decide that social was the way

1:39.3

to go with this company? So I had started a company before called Caboodle, which was really all about

1:45.6

a social community centered around fashion. You couldn't buy and sell, but you could share,

1:49.4

sort of like modern day Pinterest. Okay. And what I discovered through that was that social was really

1:56.8

the foundation for how fashion should be bought and sold. Of course, that product didn't have it.

2:02.1

So when we started the next journey, we wanted to create a social platform, but we also

2:06.6

wanted to make it very easy to post things and create things.

2:09.6

So when iPhone 4 came out in 2010, we finally found a platform that was sort of the trigger.

2:14.6

And today, you know, of course, we do everything on our phones. But 17 years back, it seemed like a big leap of faith.

2:21.6

There's no small irony in me asking this question, wearing as I am a set of khakis and I don't even know what shirt I have on today.

...

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