Total amount raised
$160 Millions
Latest funding date
6/1/2019
Location
StockX has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform specializes in the resale of limited edition and high-demand sneakers, streetwear, trading cards, handbags, and watches.
Continue reading to delve into the details of StockX's funding journey and the investors who believe in the potential of this unique marketplace.
What Is StockX?
StockX, founded in March 2015, is an online marketplace based in Detroit, Michigan. The platform specializes in the resale of limited edition and high-demand sneakers, streetwear, trading cards, handbags, and watches.
Founded by Chris Kaufman, Dan Gilbert, Greg Schwartz, and Josh Luber, StockX operates a live bid/ask marketplace that provides stock market-like visibility for consumer products. This unique approach allows users to anonymously buy and sell items, ensuring transparency and authenticity.
With a workforce of 501-1000 employees, StockX has grown rapidly, becoming a trusted name in the resale market. The platform's services include StockX Verified for authenticity checks and Xpress Ship for expedited delivery.
How Much Funding Has StockX Raised?
- Series A
- Amount Raised: $6M
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market reach.
- Series B
- Amount Raised: $44M
- Date: September 2018
- Lead Investors: Battery Ventures, Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology infrastructure.
- Series C
- Amount Raised: $110M
- Date: June 2019
- Lead Investors: DST Global, General Atlantic, Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and product diversification.
- Series D
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform's user experience and operational efficiency.
- Series E
- Amount Raised: $275M
- Date: December 2020
- Lead Investors: Tiger Global Management
- Valuation at Round: $2.8 billion
- Motivation Behind the Round: To capitalize on growth opportunities and expand market presence.
- Series E-1
- Amount Raised: $60M
- Date: April 2021
- Lead Investors: Altimeter Capital
- Valuation at Round: $3.8 billion
- Motivation Behind the Round: To support long-term growth and enhance marketplace experiences.
- Secondary Market
- Amount Raised: $195M
- Date: April 2021
- Lead Investors: Altimeter Capital, Dragoneer Investment Group
- Valuation at Round: $3.8 billion
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $690M
Current Valuation: $3.8 billion
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies. They have a strong presence in the global Internet, software, consumer, and financial technology industries.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm that invests in both public and private markets. They are known for their strategic investments in high-growth technology companies.
- Investment Focus Areas: Technology, consumer marketplaces, platforms emphasizing authenticity and trust.
- Notable Investments: Snowflake, Uber, Expedia.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is an investment firm that focuses on companies at the intersection of authenticated products and online marketplace transparency. They are known for their strategic investments in high-growth companies.
- Investment Focus Areas: Authenticated products, online marketplace transparency, platforms appealing to Gen Z and millennial consumers.
- Notable Investments: Not publicly disclosed.
- Whale Rock Capital Management
- Details: Whale Rock Capital Management is an investment management firm that focuses on technology, media, and telecommunications sectors. They are known for their strategic investments in high-growth technology companies.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Amazon, Netflix, Tesla.
- Sands Capital
- Details: Sands Capital is an investment management firm that focuses on high-quality growth businesses. They are known for their strategic investments in leading companies across various sectors.
- Investment Focus Areas: High-quality growth businesses.
- Notable Investments: Amazon, Netflix, Alibaba.
What's Next for StockX?
StockX is poised to capitalize on several growth opportunities, including expanding into new product categories like electronics and collectibles. With a valuation of $3.8 billion and a global reach spanning over 200 countries, the potential for market penetration is substantial. The company has already achieved significant milestones, such as $1.8 billion in gross merchandise value and over 7.5 million trades in 2020.
Future fundraising opportunities are likely, given the continued interest from major investment firms like Tiger Global Management and Altimeter Capital. These funds could further enhance StockX's market presence and product offerings. However, challenges such as maintaining product authenticity and navigating regulatory issues in different countries could pose hurdles as the platform scales.
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