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    Quick Hits

    StockX Seeks $2.5 Billion Valuation, Potential IPO

    By
    Dec 10, 2020 | 10:33 am
    Stock X
    Kimberly P. Mitchell- Detroit Free Press

    StockX is seeking a $2.5 billion valuation in its latest round of funding, ahead of a potential IPO in mid-2021.

    That would more than double the $1 billion valuation StockX received when it raised $110 million in June 2019.

    Co-founded by Cleveland Cavaliers owner Dan Gilbert, the apparel resale marketplace has a number of notable investors:

    • Google Ventures
    • Growth equity firm General Atlantic
    • Salesforce founder Marc Benioff
    • Rapper Eminem

    The company expects a gross profit of $141 million on $350 million in revenue in 2020, well ahead of the $239 million of revenue it earned last year.

    Though it started as a sneaker trading platform in 2015, StockX has expanded into jewelry and electronics. It is expected to handle 7 million trades this year with an average order size of $234.

    Goat Group, which also operates an online marketplace for sneakerheads, raised a $100 million Series E funding round in September. That deal valued the StockX competitor at $1.75 billion.

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