Poshmark's Heart & Hustle Community Fund to recognize and
reward entrepreneurship
REDWOOD CITY, Calif.,
June 22, 2021 /CNW/
-- Poshmark (Nasdaq: POSH), a leading social marketplace
for new and secondhand style for women, men, kids, pets, home and
more, today announced the inaugural recipients of its Heart &
Hustle Community Fund, a newly launched program that awards more
than 100 sellers quarterly with the funds and fundamentals to
grow their businesses. Poshmark has committed to distributing
$500,000 in grants throughout 2021 to
sellers who best demonstrate how they use heart and hustle to fuel
their Poshmark business and achieve their goals — whether it is
making extra money, growing their reach, or scaling their side
hustle into something bigger.
"Since day one, our sellers have been the heart of the Poshmark
community. Launching our Heart & Hustle Community Fund was an
important next step in recognizing, rewarding and empowering our
diverse seller community, especially amidst joblessness and
economic uncertainty left in the wake of the COVID-19 pandemic,"
said Manish Chandra, Founder and CEO
of Poshmark. "We are proud to support the resilient entrepreneurs
who make up the vibrant Poshmark community and who every day
demonstrate that heart and hustle go hand in
hand."
Sellers who applied for the Q1 grant cycle ranged in age from 18
to 70 and represented 40 U.S. states and eight Canadian provinces.
A total of 142 Q1 recipients were awarded, totaling 12 $5,000 grants and 130 $500 grants. Eligible applications were scored
based on the specificity of business goals, commitment to
supporting fellow Poshmark users, how they intend to use the grant
dollars and substance of their overall submission, including a
personal video testimonial. Final winners were selected by
Poshmark's Executive Advisory Council, including Poshmark founders
Manish Chandra, Tracy Sun, Guatam
Golwala, and Chetan Pungalia, and Poshmark's Head of
Community, LyAnn Chhay.
Poshmark's Heart & Hustle Community Fund recipients
represent a wide range of sellers — from a daughter balancing a
full-time business while caring for her sick mother to a college
student paying for tuition with Poshmark earnings, to an artisan
expressing their creative talents selling handmade jewelry and face
masks. Through Poshmark's Heart & Hustle Community Fund, these
sellers are given an economic boost to help grow their businesses
in a variety of ways, whether through investing in new inventory
management systems, fulfilling the necessary steps to become an
LLC, or paying for dedicated office and storage space to expand
their operations.
In addition to economic support, Poshmark will offer various
resources to help sellers uplevel their businesses. Each grantee
will be invited to join a community network with other grant
recipients and Poshmark's Community Development team to discuss
their experiences, get advice, and share progress. They'll also
receive exclusive access to talks, presentations, a toolkit
resource curated for each cohort and they'll gain insight on
upcoming Poshmark features.
The next round of applications for the summer (Q2) cohort will
open on Jul. 1, 2021. To learn more
about Poshmark's Heart & Hustle Community Fund, including
eligibility requirements, visit https://poshmark.com/communityfund,
and to learn more about the spring (Q1) winners, visit Poshmark's
The Posh Life blog.
About Poshmark
Poshmark is a leading social
marketplace for new and secondhand style for women, men, kids,
pets, home and more. By combining the human connection of physical
shopping with the scale, ease, and selection benefits of eCommerce,
Poshmark makes buying and selling simple, social, and sustainable.
Its community of more than 80 million registered users across the
U.S., Canada, and Australia, is driving the future of commerce
while promoting more sustainable consumption. For more information,
please visit www.poshmark.com, and for company news and
announcements, please visit investors.poshmark.com. You can also
find Poshmark on Instagram, Facebook, Twitter, TikTok, Pinterest,
YouTube, and Snapchat.
Media Contact
pr@poshmark.com
Investor Contact
ir@poshmark.com
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SOURCE Poshmark