Poshmark Founder & CEO Manish Chandra Steps Down
15 years after founding the company, Poshmark CEO Manish Chandra is stepping down and will be replaced by current Executive Chairman and Naver President of Investments Namsun Kim.
Chandra made the announcement in a company blog post this morning, thanking the Posh Community for making the humble dream started in his Silicon Valley garage come true.
Poshmark
Thank you, Posh Community — a new chapter for Poshmark
Dear Poshmark Community,
15 years ago, my three co-founders and I were fueled by a humble dream in my Silicon Valley garage: to completely reimagine the future of retail. We saw a massive opportunity to leverage technology to enable you to shop and sell from one another’s closets online, and to truly connect around each magical experience. Our vision was to infuse the social and personal aspects that we all know and love about in-person shopping into a vibrant digital space.
We poured our hearts into that dream with you every step of the way, and together, we made it happen. Today, the Poshmark community is 150 million strong, and that’s all thanks to you. Day in and day out, you embrace your unique secondhand style, you build your livelihoods with us, and, most profoundly, you foster a supportive network amongst yourselves.
That spirit of support and #PoshLove is the very heart of this community, and it’s something I deeply hope you will all carry forward into this next exciting chapter of the company.
Today, we announced that I’ve decided it’s time for me to pass the torch as Poshmark’s CEO to Namsun Kim, Poshmark’s current Executive Chairman and someone I’ve known and deeply respected since 2022.
When I first met Namsun, his profound conviction in our mission immediately struck me. I felt with certainty that he was someone I would be incredibly proud to see lead this company one day. For the better part of this year, Namsun and I have been working hand-in-hand, ensuring this transition is as smooth as possible, preparing him to lead Poshmark into its next era of growth and excellence.
While my time as your CEO will conclude at the end of September, please know I’m not going far at all. I’ll continue to serve as a board member and investor, and I will forever be Poshmark’s biggest, most enthusiastic cheerleader. Namsun and I hope to see many of you at PoshFest next month in Silicon Valley where it all began back in 2011!
Leading this company has been the greatest honor of my professional life. Every success we’ve achieved, every challenge we’ve overcome, has been because of you. It’s been the privilege of a lifetime witnessing each of you grow, and it has truly inspired me every single day. From the bottom of my heart, thank you. For being the extraordinary community that you are, for your trust, your creativity, and for all the possibilities you continue to create together.
With endless #PoshLove,
Manish Chandra
Poshmark was acquired by Korean tech firm Naver in 2022, so it's unsurprising that a Naver exec has been tapped as Chandra's replacement.
Liz Morton
In addition to being on Poshmark's Board since 2023, Kim has held several high level positions at Naver, including SVP Corporate Development, Chief Financial Officer and President of Investments.
"I'm incredibly honored and excited to step into the CEO role at Poshmark," said Kim. "I want to express my sincere gratitude to Manish for his outstanding leadership and the strong foundation he's built since day one. I'm committed to building upon his legacy to continue innovating, delivering exceptional value to the Poshmark community, and achieving new heights."
The announcement comes as Poshmark has struggled through unpopular fee changes and controversial crackdowns on policies which penalize sellers who crosslist items to other marketplaces.
Liz Morton
Stay tuned for updates in this developing story and let us know in the comments below if you think a leadership shakeup will be good or bad for the future of Poshmark!
