• Loading stock data...
Saturday, July 5, 2025

TikTok Owner Looks to Sell Stake in $10B Sneaker Resale Platform

  • ByteDance is looking to offload a stake in Poizon, which has roughly 100 million monthly active users.
  • Poizon is valued at more than $10 billion.
Poizon

ByteDance, the owner of TikTok, is considering selling a minority stake in Poizon, an online fashion marketplace for sneakers and apparel, according to Bloomberg. 

The Beijing-based company is looking to offload a stake in Poizon, which has roughly 100 million monthly active users, as it downsizes its business operations, particularly its investment arm and VC team. ByteDance anticipates a crackdown by Chinese regulators on tech companies. 

  • Poizon is valued at more than $10 billion.
  • A sale would be for a stake less than 10%.
  • ByteDance prefers to sell the minority stake to an existing investor.
  • No deal is imminent, as ByteDance may decide to keep the stake. 

ByteDance, which is privately held, was looking to go public last year in the U.S. or Hong Kong but scrapped its plan for an IPO after Chinese regulators asked the company to address data security risks and other issues. As of April, ByteDance is reportedly valued at $140 billion. 

Growing Tension 

ByteDance’s plans to sell a portion of Poizon come amid tension within the sneaker resale market. 

In February, Nike sued resale platform StockX over NFTs, accusing the latter of trademark infringement when some of the NFTs included Nike shoes. Two months later, Nike claimed it purchased four pairs of counterfeit shoes from StockX — including one matching an NFT.

Earlier this week, StockX, which reached a $3.8 billion valuation in 2021, filed a response to the lawsuit with the U.S. District Court in New York claiming Nike’s allegations “lack merit.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

A Lululemon store at Freehold Raceway Mall in Freehold Township, New Jersey on Nov. 30, 2023

Sportswear Stocks Rise as Trump Touts Vietnam Trade Deal

Tariffs on Vietnam imports will be 20%, down from a prior threat of 46%.
From vintage to unique collaborations, various Nike and Jordan shoes are displayed on a wall at Saved Soles inside West Ridge Mall.

Nike Stumbles Less Than Expected, Giving Wall Street Hope

The sports apparel and footwear giant beats Wall Street expectations.
Faith Kipyegon

Nike’s Sub-4:00 Stunt Falls Short With Fastest Women’s Mile Ever

Male pacers and cutting-edge tech helped Kipyegon shave off one second.

Featured Today

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
July 3, 2025

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”
June 29, 2025

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
Jun 20, 2024; Eugene, OR, USA; Detailed view of Nike Alphafly 3 racing flat at the Nike by Eugene store.

Investors Hunt for Signs Nike Has Regained Its Footing

Nike’s fundamentals are “still challenged.”
June 13, 2025

U.S. Open Merch Pops Thanks to Oakmont’s Squirrel, Viral TikToks

There are more than 400,000 pieces of merchandise available at Oakmont.
Jun 15, 2025; Oakmont, Pennsylvania, USA; JJ Spaun putts on the 18th green to win during the final round of the U.S. Open golf tournament.
June 16, 2025

‘Pandemonium’: Putter Maker Sees Sales Surge After JJ Spaun’s U.S. Open Win

The company behind Spaun’s putter is already in talks with his people.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
Tom's Watch Bar
June 12, 2025

How the Pacers and Caitlin Clark Boosted One Bar’s Bottom Line

Tom’s Watch Bar hosted John Haliburton for at least five games.
June 12, 2025

U.S. Open Cashing In on Signature Cocktail Trend With Lemon Wedge

Last year, the whiskey cocktail was served more than 50,000 times.
Nike store
June 5, 2025

Which Sportswear Retailers Are Best Positioned to Raise Prices?

Why On can more easily raise prices than Nike.
Mar 23, 2024; New York, New York, USA; Sneakers worn by New York Knicks guard Jalen Brunson (11) during warmups prior to the game against the Brooklyn Nets at Madison Square Garden.
May 21, 2025

Nike to Raise Prices on Sneakers Above $100

Kids products and Air Force 1s won’t be affected.