In June of 2019, StockX\u2019s valuation had ascended to an approximate $1 billion USD through investments from various growth equity, investment, and venture capital firms. As of today, December 17, 2020, StockX has announced their new mega-valuation of $2.8 Billion USD following their recent $275 Million SERIES-E funding. Led by Tiger Global Management, LLC along with three other firms, its clear that these venture capitalists, who have previously invested in Amazon, Netflix, and other e-commerce platforms, believe in the Michigan-based firm’s ability to generate profits. <\/p>\n\n\n\n
Describing themselves as the world\u2019s first stock market of things, StockX\u2019s rapid rise has expanded the company\u2019s operations to the global level. First seen in the United States, the company has expanded to countries within the EU and Asian countries like Japan.<\/p>\n\n\n\n
The announcement of their latest SERIES-E funding has given the firm over $490 million USD in total investment capital. Thus far, it seems the company plans to use the additional cash to increase its global reach and product development, but the recent financing also is rumored to be in preparation for a 2021 IPO.<\/p>\n\n\n\n
With the massive growth surrounding sneakers, streetwear items, collectibles, and playing cards, the e-commerce company will likely further its valuation in the next several years. It\u2019s likely that young investors will be very bullish on the firm as the company continues establishing and maintaining a strong fashion presence.<\/p>\n\n\n\n
Below is a statement from StockX CEO Scott Cutler describing the recent valuation. <\/p>\n\n\n\n
\u201cThe quality of investors joining us is a clear signal that the market recognizes that there is incredible opportunity in e-commerce for current culture products and StockX is best positioned to meet consumer demand for those products,\u201d StockX CEO\u00a0Scott Cutler\u00a0wrote in a statement. \u201cI\u2019m thrilled to welcome our new partners to the team \u2014 their collective expertise will be invaluable as we continue to build on the momentum from the last year, and drive the growth to cement StockX\u2019s position as the global marketplace leader.\u201d<\/p>Scott Cutler Statement <\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
In June of 2019, StockX\u2019s valuation had ascended to an approximate $1 billion USD through investments from various growth equity,…<\/p>\n","protected":false},"author":328335,"featured_media":954409,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"cultivate_rss":[],"class_list":{"2":"type-post"},"acf":[],"yoast_head":"\n
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