Naver makes deal to acquire Poshmark

Naver has agreed to pay $1.2 billion to acquire Poshmark. The deal to acquire the online platform for second-hand merchandise will give the South Korean company a foothold in the U.S. Choi Soo-Yeon, the chief executive of Naver, said the Poshmark acquisition will allow his company to gain an edge in advancing its position within the "C2C" market.