Poshmark Inc | August 13, 2021
Second-hand retailer Poshmark Inc on Tuesday forecast third-quarter revenue largely below estimates and warned that its marketing efforts were taking a hit from Apple Inc's new privacy controls over digital advertising tracking.
Poshmark's shares slipped 7% in after hours trading, poised to settle more than 25% below its initial public offering price in January.
Apple in April enforced a rule requiring developers to seek permission for gathering data that can be used to track users across other sites and apps. Facebook Inc had criticized the policy, saying it could harm customers.
Poshmark, which relies on social media marketing to draw in shoppers, felt the impact of Apple's new policy late in the second quarter and expects it to continue into the current quarter as well, Chief Executive Officer Manish Chandra told Reuters in a call.
The company forecast third-quarter revenue of $81 million to $83 million, with the mid-point slightly below estimates of $82.4 million.
But Chandra was confident the effects of Apple's policy were only temporary, as Poshmark has been spending heavily on alternatives such as TV ads and tie-ups with celebrities like Marie Kondo.
"It will work itself out as we go through the quarter and the second half, largely because our channels are quite diversified and super adaptable," Chandra said.
Poshmark said revenue rose 22% to $81.8 million in the second quarter, beating Refinitiv IBES estimates of $80.3 million, as it pulled in thrifty young buyers looking for more environmentally sustainable ways to shop for everything from pre-owned T-shirts to high-end boutique dresses.
The Delta variant of the coronavirus was not a major concern for Poshmark in its revenue outlook, Chandra said.
Smaller rival ThredUp Inc's shares rose over 7% on Tuesday after its second-quarter revenue surpassed estimates. It also forecast third-quarter revenue above expectations.
Genus AI | October 09, 2020
Genus AI, an artificial intelligence company focused on scaling emotional intelligence in interactions between brands and customers to drive business growth, today announced a new Artificial Intelligence (AI) solution for e-commerce and direct-to-consumer brands, the Genus AI Growth Platform, which represents a breakthrough in the way marketers segment their customers and develop their campaign content. With a suite of AI-powered digital tools, the Growth Platform creates superior customer model, segmentation and specific content evaluation for increased campaign conversions and ROAS. "After years of working with the world's leading direct-to-consumer brands, we see that it is easy to scale the number of interactions but still very hard to scale the quality of these interactions to drive efficient growth," said Dr. Tadas Jucikas, CEO, Genus AI. "Our new Growth Platform is designed to provide a seamless integration of enriched customer data enabling brands to select the most impactful content from their vast content libraries where the platform manages multiple digital advertising campaigns. During the pandemic our technology has provided a much needed competitive advantage to brands and opened the door to one-to-one emotional intelligence at scale." One of the direct to consumer brands successfully adopting the Genus AI Growth Platform is Hunt a Killer, a popular monthly subscription gaming company.
180byTwo | September 30, 2020
180byTwo, a leading Business-to-Business (B2B) and Account-Based Marketing (ABM) solutions provider, announced a new integration with LinkedIn, the world's largest online professional network, enabling mutual customers to leverage 180byTwo's Unifi Platform to optimize LinkedIn campaigns. 180byTwo's Unifi Platform is the first end-to-end customer intelligence platform built specifically for account-based marketers. Unifi brings together 180byTwo's best-in-class B2B identity resolution, business intent data, and AI-powered audience solutions to enable granular targeting, robust data enrichment, and seamless cross-channel activation. "We built Unifi to help B2B marketers shorten the sales cycle by extending their account-based marketing programs across marketing channels," said Eric Shaffer, founder and CEO of 180byTwo. "Unifi lets B2B marketers identify the companies and buyers that are actively showing interest in their products and services, analyze these buyers' unique business needs, and target them with tailored messaging. We're excited to now offer seamless targeting within LinkedIn." Through the Unifi platform, customers such as Myosin are able to seamlessly integrate their clients CRM system, enrich, score, prioritize, and activate accounts via LinkedIn along with several other activation channels.