Poshmark CEO Manish Chandra says his company’s culture was built on having an office, but he expects post-IPO life will mean a hybrid model for employees


Kaitlin Kao Poshmark Seller

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Poshmark is headquartered in Redwood City, California, but employees don’t have to worry about returning to the office anytime soon.

“I expect a hybrid model in the future,” Poshmark CEO Manish Chandra told Insider shortly after shares of his company surged as much as 150% on Thursday as the second-hand goods provider made its public-market debut.

Poshmark’s headcount grew from 212 full-time employees in 2017 to 501 full-time employees in 2020. Of that number, 166 of the employees are in research and development, 57 in marketing, 225 in operations and support, and 53 in general and administrative roles, according to the SEC filing.

“I love going to the office and physically working in it, and so much of our team culture is built around that. So I expect that we would want to have an office, Chandra told Insider, adding, “But I expect that remote work is also here to stay. So I expect a hybrid model in the future.” 

Poshmark’s 75,876-square-foot headquarters is currently under a lease agreement that expires on May 31, 2024, according to the filing. Poshmark also leases facilities in Newark, California, Canada, and India.

 

SEE ALSO: Poshmark’s three earliest investors just made billions from its spectacular IPO. They explain how CEO Manish Chandra convinced them to invest.

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Source:: Business Insider

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