Poshmark, Inc. (POSH), an e-Commerce portal for buying and selling new or used clothing, shoes, and accessories, has announced the acquisition of Suede One, an online authentication platform for used sneakers and luxury items, for an undisclosed amount. Following the news, shares jumped 6.7%, closing at $24.64 on Wednesday. Suede One was founded in 2020 to help resellers ensure the speedy, smooth, and accurate verification of products, and to protect them from fraud. Its technology uses machine learning, computer vision, and expert human review to authenticate sneakers online.
https://www.tipranks.com/news/poshmark-buys-suede-one-to-authenticate-sneakers-shares-jump-6-7?utm_source=advfn.com&utm_medium=referral
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