South Korean e-commerce company Naver Corp announced a $1.2 billion purchase of U.S. fashion resale platform Poshmark Inc but investors questioned the timing of its biggest acquisition amid a slowing economy and sent its shares tumbling. Naver, which is also South Korea's top search engine, will pay $17.90 cash for each Poshmark share and acquire all of its outstanding stock in a foray into the U.S. e-commerce market. Poshmark is the largest fashion consumer-to-consumer platform in North America, with 80 million registered users led by Millennial and Gen Z active users, Naver executives said in a conference call on Tuesday. The deal will combine Poshmark's shopping platform with Naver's technology, likely starting with live-streaming, a key driver of e-commerce in South Korea, followed by technologies such as image recognition and artificial intelligence, the two companies said in a statement. With Millennials and Gen Zers leaning toward value-driven consumption such as environmental protection, and with inflation squeezing wallets, Naver and Poshmark seek to lead "re-commerce" or consumer-driven resale - expected to be the next global trend after convenient e-commerce, or fast fashion, Naver CEO Choi Soo-Yeon told Reuters.

Are you an Engineer who is passionate about using cutting-edge ML algorithms to create and deliver value using data? Poshmark is looking for a Senior ML Engineer who can independently drive innovation across our key AI products. As a market leader in Social Commerce, Poshmark faces a unique opportunity to utilize our massive multi-platform social and commerce data to shape social commerce and create value for our users. With 400 MM events per day and 30 terabytes of exponentially growing data, Poshmark presents a unique opportunity to build AI products using Big Data. This person will work on multiple ML initiatives and help solve some of the most challenging problems in social commerce like - Personalizing User Experience, Search Ranking, and many more.

Poshmark is a leading social marketplace for new and secondhand style for women, men, kids, 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 fun. The Machine Learning team is a central player in the Poshmark organization. Our mission is to build a world-class machine learning platform to bring value out of data for us and for our customers. The Machine Learning Engineering team at Poshmark is looking for an experienced machine learning engineer to take care of Poshmak's requirement to take machine learning models with varying requirements to production .

The retail experience was undergoing a transformation even before the current pandemic forced massive changes in shopping behavior. A 2019 survey revealed that 92 percent of 1,400 retail leaders identified "reinventing the customer experience" as their top business priority. However, with the new reality we've all been forced into, the stakes for retailers are higher now than ever. To understand the changing needs of consumers and respond to those needs, retailers must leverage big data strategies based on artificial intelligence (AI) and machine learning (ML) technologies. In a crowded marketplace, retailers must find ways to differentiate their brands through increased personalization, better customer service, and improved demand forecasting.

If you're reading this article, chances are that you're pretty aware of the fact that many things are moving from the physical world to the digital one -- from editorial content to retail. But sometimes, those online experiences still leave something to be desired; a trend we've noticed over the past couple of years is retailers harnessing technology in an attempt to mimic the level of customer service and personalization you might get from a really good, attentive salesperson IRL. While shopping online is supposed to be convenient, it can often be overwhelming. Many online retailers boast tens or hundreds of thousands of brands and SKUs, and if you don't know exactly what you're looking for, and how it will fit you, the experience can be pretty frustrating. To mitigate that, retailers with the resources to do so are working to use data collection and, in some cases, AI to create more personalized shopping experiences -- i.e., showing you products it thinks you will like based on what you've purchased before, sort of like fashion's version of Spotify Discover Weekly or Apple Music's For You tab.