Sneaker Marketplace StockX Valued At $3.8B After Latest Funding Round

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Sneaker marketplace StockX said on Thursday it had raised $255 million in a late-stage financing round, valuing the company at more than $3.8 billion.

The online retailer of sneakers, apparel, electronics, collectibles and trading cards is expected to make preparations to go public as soon as later this year, according to a person familiar with the matter.

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The capital raise was led by technology focused investment firm Altimeter Capital, with new investment from growth-equity company Dragoneer and existing investors. As part of the deal, $195 million was used to buy stakes from some StockX employees, while the rest of the round was used to buy new shares.

The Detroit-based company’s current valuation is 35 percent higher than its last valuation of $2.8 billion during a Series E funding round in December, when it raised $275 million.

The popular e-commerce marketplace lets customers either bid on an item or buy the product at the displayed price. It closed more than $7.5 million in trades and reported a gross merchandise value of $1.8 billion for the year ended Dec. 31, 2020, raking in a revenue of $400 million.

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StockX, which serves over 200 million visitors to its online marketplace across 200 countries, hit profitability in the second half of last year.

By Juby Babu and Sohini Podder; editors: Amy Caren Daniel and Devika Syamnath.

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