POSH

Overview

POSH is an event startup based in New York, focusing on creating and personalizing small, intimate gatherings. Founded by CEO Avante Price and CPO Eli Taylor-Lemire, the company recently announced a $22 million Series A funding led by Goodwater Capital. The app has gained a user base of over 2 million and has processed $95 million in ticket sales. POSH uniquely connects people by allowing users to discover events based on their contacts and social connections, making it a standout in the social media and event industry.

Recent Developments

October 2024: POSH announced plans to release a "For You" page, which will suggest events based on a highly personalized algorithm leveraging user social networks and past engagements.
July 2024: The company raised $22 million in Series A funding led by Goodwater Capital, with additional participation from FirstMark Capital and other investors. This funding round was geared towards enhancing the app’s features and expanding their team.
Q3 2024: POSH launched an innovative feature allowing users to import contacts, thereby enhancing event recommendations based on known attendees. This feature aims to boost user engagement by personalizing event suggestions.
April 2023: The startup raised a $5 million seed funding round to strengthen its SaaS offerings, build out its mobile app, and start the transition from supporting event organizers directly through their platform to a broader consumer audience.

Attribute	Information
Founding Date	2020
Headquarters	New York, USA
Founders	Avante Price, Eli Taylor-Lemire
Revenue	$95 million in sales
Key Investors	Goodwater Capital, FirstMark Capital, Companyon Ventures, Epic Ventures
Industry	Social Media, Events
Number of Employees	Information not available

Early History

POSH was founded in 2020 by Avante Price and Eli Taylor-Lemire, leveraging their extensive experience in events and entertainment. The startup began as a SaaS provider for event organizers, allowing them to host and manage events via an online platform. Initially, the focus was on concerts and large gatherings, but the company pivoted to concentrate on smaller events that foster personal connections. By 2023, POSH had refined its offering to include a TikTok-style interface for users, facilitating a unique browsing and discovery experience.

Company Profile and Achievements

POSH leverages advanced algorithms and social connectivity to provide personalized event recommendations, engaging users by linking their attendance to social connections. The company’s achievements include:

Amassing over 2 million registered users, with the platform supporting around 5,000 monthly events.
Successful pivot from a B2B SaaS model to a direct-to-consumer event discovery and engagement platform.
Processing over $95 million in lifetime bookings.
Developing a unique TikTok-style interface to make event discovery engaging and intuitive.

Current Operations and Market Position

POSH focuses on the event management industry by facilitating both virtual and in-person social experiences for users. The app’s distinct competitive edge lies in its ability to personalize event suggestions based on user social networks. In 2024, POSH aimed to capture 25% of ticket sales from direct app purchases, a goal supported by its innovative features and recent funding injection used to enhance user experience.

Conclusion

POSH stands out in the event and social media domain through innovative personalization and user engagement strategies. With strong investor backing and a growing user base, POSH is poised to make a significant impact on the social event industry, potentially becoming the next major platform for enriching personal interactions through events. Its focus on small gatherings, personalized recommendations, and leveraging social networks positions it well for future growth.