Mayfield partner Navin Chaddha and Poshmark head honcho and CEO Manish Chandra met all the way back in 2003, well before Poshmark was small glimmer in his eye. Consumers stayed connected over the years, right from Chandra’s sale of his itc Kaboodle to Hearst along with he left.
At a breakfast one dawn, Chandra told Chaddha he was going to try to do everything from his iPhone for the next few months.
Over the course of that point, the idea for Poshmark began to percolate into something a lot concrete. Chandra, following Kaboodle, knew he wanted to write several things differently. The first was initially create an engagement together with revenue model that was symbiotic, rather than starting with engagement together with having to build out a booming enterprise model later. He possibly even knew he wanted to start by people first, and build another founding team that suffered with deep DNA in the designing world to pair with his technical background.
Your lover met Tracy Sun, helped bring her on, and got function.
This was back 2011, and Chandra was absolutely adamant that he looked-for Poshmark to be an software, not a website. So inextensible, in fact , that during beta he actually provided one-hundred users with video iPods. (He recalled that he alone got 20% of them yet again. )
“Lead with love, and the investment comes. ” It’s one of the most common values at Poshmark. Evolution practiced that early on as a result of holding IRL, and then internet gateway, parties, allowing users of showing each other their wares and create an engagement cycle that many offered instant gratification. One base grew from pct to 150 to 1, 500 and so on.
“We still to this day use a matching kind of strategy in a a great deal compressed timeframe as we click on different countries, ” wanted to say Chandra. “We focus on developing the community first and then enormity that community. ”
Chaddha and Mayfield led the company’s Sequence A deal a decade ago. On the newer episode of Extra Crunch Live , Chandra and Chaddha sat down with us and walked us through that original Series A pitch deck (which you can check out below). They also participated in the Pitch Deck Teardown, giving their expert feedback on decks submitted by the audience. If you’d like your deck to be featured on a future episode of Extra Crunch Live, < a href="https://oathtechevents.typeform.com/to/Lutrgz8Q"> hit upward and this link .
Poshmark’s Series Decking
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Poshmark was established on a couple fundamental driveway. The first was that the iPhone will transform the way we choose just about everything. The second was additional pointed: That fashion, at that moment underserved by technology, was a discovery process over a straight search process. A decade ago, Chandra envisioned a fashion marketplace that most mimicked shopping in the fundamental — walk into a shop permitting natural attraction do its own thing — without attempting to keep any inventory.