StockX has tagged two of the world’s largest financial companies for its approaching IPO.
The resale platform is working with Morgan Stanley and Goldman Sachs as it prepares to go public in the first half of this year, according to Bloomberg.
StockX is best known for sneakers and streetwear but has expanded to sell gaming consoles, including highly sought-after Xbox and PlayStation models, trading cards, and other collectibles.
- The company landed a $3.8 billion valuation in April 2021 after surging in popularity during the pandemic. StockX rival Goat Group received a similar $3.7 billion valuation after raising $195 million in June 2021.
- The valuation was 35% above the $2.8 billion figure it secured five months prior.
- StockX raised $60 million in a Series E1 and conducted a concurrent $195 million secondary tender offering in April, bringing its total funding to $690 million, per Crunchbase.
The platform has seen recent surges in interest for Air Jordans, hoodies and jackets from the Gap-Yeezy collaboration, and Hot Wheels toys modeled after the Tesla Cybertruck.
Collectibles Surge Continues
While the collectibles boom was initially associated with the pandemic, investors have shown no signs of turning away from the industry.
Earlier this month, Fanatics agreed to buy Topps for $500 million. Fanatics Trading Cards was valued at $10.4 billion, following a $350 million raise in October.
