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US Poshmark Acquires Suede One Sneaker Authentication Platform

Poshmark is a leading social marketplace for new pre-owned styles for women, men, children, pets, homes and more, a platform that virtually authenticates sneakers by combining machine learning, computer vision and expert human reviews. I bought a Suede One. The deal is Poshmark’s first acquisition and reflects the company’s focus on strategic investment.

“Suede One has built great features for virtual authentication, which provides tangible benefits to the community, extends authentication services in a meaningful way, and is one of the two fastest growing categories. You can accelerate the momentum of some sneakers and luxury goods. In the resale space. We are excited to welcome the Suede One team to Poshmark and look forward to what we can build together. ” Manish Chandra, Founder and CEO of Poshmark, Said in a statement.

Founded in 2020, SuedeOne’s technology enables an out-of-stock approach to certification. This technology analyzes the image of a product and executes an algorithm based on consistency to identify whether the product is genuine or fake. For popular sneakers such as the Jordan 1 and Yeezy 350, Suede One can automatically certify most of your submissions with an accuracy of over 99% based on internal testing. For other types of sneakers, a human expert reviews the submission with the help of the company’s own certification tool.

Poshmark is a leading social marketplace for new pre-owned styles for women, men, children, pets, homes and more, a platform that virtually authenticates sneakers by combining machine learning, computer vision and expert human reviews. I bought a Suede One. The deal is Poshmark’s first acquisition and reflects the company’s focus on strategic investment.

Suede One has certified a pair of Nike Air Yeezy 1 prototypes sold for $ 1.8 million at the auction and has built a reputation for reliable and quick certification with a wide resale community and acclaimed resellers.

“We have set up this company to solve a major challenge in the reseller community. We have created a technology that protects them from fraud and guarantees reliable, fast and accurate authentication.” increase. Suede One CEO Matt Forloin.. “Poshmark and SuedeOne share the same values ​​of trust and focus on the community. By working together, we can advance technology, extend these services to more products and categories, and as many as possible. It can benefit people. “

Suede One’s virtual authentication feature complements Posh Protect, which guarantees a full refund for items that don’t match the list description, and Posh Authenticate, which continues to offer free authentication by Poshmark’s team of senior experts for orders over $ 500.

Fiber2Fashion News Desk (KD)



US Poshmark Acquires Suede One Sneaker Authentication Platform

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