• Loading stock data...
Tuesday, April 16, 2024
  • -
    days
  • -
    hours
  • -
    minutes
  • -
    seconds

GOAT Rides Sneaker Craze to $3.7B Valuation

  • GOAT Group continued its sneaker-propelled ascent with a $195 million Series F fundraise.
  • The company was valued at $3.7 billion, more than double its September valuation.
GOAT/Design: Alex Brooks

In less than a year, GOAT Group has more than doubled in value.

The resale market raised $195 million on a $3.7 billion valuation in a Series F round led by Park West Asset Management. That’s a 111% bump from the $1.75 billion valuation it received on its $100 million raise in September.

GOAT Group, which runs the GOAT online marketplace, has emerged as one of the winners of the sneaker craze. The market offers hard-to-find, second-hand sneakers and clothing, while also partnering with brands like Gucci as a retail platform. 

  • GOAT claims $2 billion in sales on its platform over the last 12 months.
  • Sneaker sales on GOAT have doubled over the last year; apparel sales have grown 500%.
  • The platform boasts 30 million customers, 80% of which are millennials or Gen-Zers.

Unlike StockX, which also sells gaming gear and collectables, GOAT focuses on sneakers and apparel. StockX received a $3.8 billion valuation in April and is expected to go public as soon as this year.

Market analyst Cohen Equity Research estimated that the global sneaker resale market could grow to $30 billion by 2030, up from $6 billion in 2019.

GOAT said it would use the funds to expand its operations, particularly in Asia. It is building fulfillment centers in China, Japan, Singapore, and Chicago to bring its global total to 17.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

A’s Reach Deal to Leave Oakland for Sacramento After This Year

The A’s will play in a minor league park starting in 2025.

Ongoing NFL Network Cuts Hit On-Air Talent

The network also made cuts around the ‘Good Morning Football’ move to L.A.

LeBron James Explains Why Women’s March Madness Has More ‘Star Power’

James said Angel Reese and Caitlin Clark give women’s game ‘icons.’
podcast thumbnail mobile
Front Office Sports Today

Inside the Most-Hyped WNBA Draft in History

0:00
0:00

Featured Today

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.
Mar 31, 2024; Portland, OR, USA; NCAA officials measure the three point line while coaches from the Texas Longhorns and NC State Wolfpack watch with referees in the finals of the Portland Regional of the NCAA Tournament at the Moda Center center.
April 1, 2024

NCAA Has No One to Blame for Latest Women’s March Madness Transgressions

NCAA is still making avoidable mistakes three years after a complete overhaul.
Nov 16, 2015; Bloomington, IN, USA; General view of the championship banners at Assembly Hall prior to the game between Austin Peay and Indiana.
March 31, 2024

How to Make It in Basketball: Become a Manager at Indiana

Inside the Hoosiers’ unglamorous, profoundly rewarding incubator for basketball’s biggest names.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Nike
Multiple - USA Careers
NBA
Multiple - USA Careers
Dunham's Sports
Multiple - USA Careers

Silver Lake to Take Endeavor Private, Ending Tough Stock Market Run

Private equity giant Silver Lake is set to acquire the remaining shares it didn’t already own.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
DraftKings
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.
Sponsored

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.
The swoosh logo at Nike Eugene.
September 28, 2023

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.