How to Make Cash from Your Closet

Watch how a college student makes over $70,000 from selling unwanted clothes on Poshmark.
3:00 | 01/27/14

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Transcript for How to Make Cash from Your Closet
Tired of looking at the same old clothes in your closet they're just taking up space Wallace start up has created an app that lets you sell -- -- -- -- not -- -- unwanted items. And also shop for new fashion -- someone else's virtual closet and that's not all many users are turning -- mark. It to a stay at home business well joining us now from Menlo park California on Skype. Is the brains behind the -- many -- -- he is founder and CEO -- mark many stakes so much for waking up early with us here on real says. You've got a big closet behind you tell us about posh market how it works. Thanks thanks for having -- -- some old fashioned market they will be created is a very simple way and bit me in use. To Biden's own actions and that I -- from android. In other ribbons and Shaw and paid hundreds of thousands of what is it be available Salem -- mark. Why do that what it sounds somewhat similar for example to something like eBay where you could be selling your old items on eBay why start -- company so similar. The worst and basic thing is that most women do not -- their closets -- sale and the reason is it's extraordinarily. Clark to do that. What -- it is a very simple -- a couple of pictures -- your eye on snap snap and you have a listing available for sale there's -- -- a list. -- -- I themselves we take get a payment processing resent your shipping label -- -- get our customer service. So you really enables every woman to participate in this economy. The second big thing is that in our solution works right -- your -- every night. You don't want -- And that sort beast which is the most amazing part -- -- market is that they may not -- -- -- community. They're not just aren't selling and buying their actually supporting each other this friendships forming each -- aren't theirs side advice so it's a unique experience is nothing like what's he on eBay or Amazon or -- And it's creating an extraordinary group of women who we all plotted entrepreneurs. -- -- -- -- beating a new kind of business. And we've got a closet on -- nor right here with us in studio Hannah we met nice to see me. So tell me how did you end up getting into -- mark and what are you selling. I -- in 2000 while. Just tested out. I actually act and cotton sweater in the now that silently on me sound -- -- what they do it -- they asked. That canceled within twenty minutes. I -- is an ugly sweater with that enlightenment -- -- -- to sit on gun on me and how I. Second that -- that ran upstairs my closet and grabbed everything else that I haven't been and sort of less than those things then everybody really loved it how should be sold on pop -- are. I'm not sure of the exact number of items -- now that. My most -- -- month with about -- -- 500 apps. So you Clinton literally just be rotating a wardrobe through -- -- he wanted to write correctly -- five -- mean who even as 500 are you each alcoholic. While I have got since starting on -- Smart people really love my closet and they are asking me background boutique sound like -- this is legitimately make money. So I got my business license and so now this business -- -- how does your closet. My confidence pretty bank but right now and I didn't -- into it yes OK interlocking yes. And so but now in our house we have. Hold separate room that is my -- mart stores I've -- shown semantic and -- -- our house is that because you. Live with the family yes. Okay you're living with your parents yes and you're running the business yes you asking -- -- -- I'm 21 years 21 years old yet you've got a business license you're running a business. And it's because of that -- that's our right. So for anybody -- speaking about doing it what would -- it that definitely do it easiest way to make money. It's just an awesome experience. Jets pay taxes on that -- -- yet now -- do you think. You know I painted him yeah you have to pay taxes on its you have to keep good track of what you're doing but -- also able Q. Hi I'm not Smart are you doing -- to -- yes. Have bought some great things I think. -- -- just -- this amount back that retails for over 15100 dollars and I thought for 500. The girl had only used it twice. That was like the last -- -- Many -- did you envision all of this when you started -- mark. It was a general idea to back we are certainly get something going but that level. -- -- -- -- movement. -- over -- years it actually shocked us especially this -- Last year we had about 300000. Slots open for business cheers. That's the number of physical boutiques and -- and millions of shoppers have been shopping these lawsuits. So it's something are certainly much bigger than what we would ever anticipated at the beginning of this company. What -- things with which shopping online and really shopping for any retailer that you don't know well of course -- -- -- you may not know who you're buying from very well is trust and trusting that. If you're putting money out there that you're going to get the item that you believe your -- or how do you make sure that -- the case. So what being created a very simple process that protects both the buyer and the seller. Menu wonder -- -- -- and I don't achieve by one -- and -- fifty dollars you get -- heart fifty dollars lets us on shipping -- We can send an email to the -- saying they should get right and -- -- -- And sent PP shipping label once the fire gets the items -- -- days to accept the -- And only after the buyer accepts the item to -- released a payment seller. And it applied -- of properly senator return label she -- item back to the -- -- and -- money back. So we -- protect all the buyer and the seller. And really create a trusted platforms you don't have to worry about who you're -- from all our Liu who are selling to. -- how much time is this taking you Hong. And a full time student chance out it. Some -- -- definitely fall but it's relay at. Probably a full time job now. It's pick up your act yes and and you make your -- with that yes but you have to send things out which say you know there is some responsibility there has anyone ever sent anything back. And I think maybe once something that damaged actually in the shipping and that's that's -- -- So you've actually been able to seal the deal each -- -- out of thousands of items. Well good for you and so if someone shopping on -- -- -- they find your stuff. I'm in this users' search they were -- Hannah. -- So Hanna thank you so much for joining us in many states so much for joining us and waking up so early in California we really appreciate it. Thanks to -- thanks for having us thank senator don't think.

This transcript has been automatically generated and may not be 100% accurate.

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