25.06.21NewsGOAT
ARTICLE BY Boon Mark Souphanh
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,goat rack of clothes

GOAT Now Valued at $3.7 Billion, Doubling the Prior Valuation

GOAT have reached a valuation of $3.7 billion, following the close of a Series F funding round of $195 million. The latest figures indicate that the popular sneaker/streetwear marketplace has more than doubled its value of $1.8 billion following the Series E round that was announced in September of 2020. Holy moly!

GOAT have achieved Gross Merchandise Value of $2 billion in the last 12 months, and year-over-year GMV increase in sneakers is over 100 per cent. The biggest gains, however, were made in apparel, with a year-over-year GMV increase of 500 per cent.

‘GOATs growth is accelerating across every channel and category due to the powerful global technology platform we have developed and the premier customer experience we deliver, which resonates with younger consumers around the world,’ said Eddy Lu, Co-Founder and Chief Executive Officer at GOAT Group.

‘GOAT is creating a leading, highly differentiated luxury and lifestyle brand that is uniquely positioned at the intersection of the primary and resale markets, enabling us to increase our share of a large and expanding total addressable market in our core sneakers business and newer verticals.’

The latest round of financing was led by Park West Asset Management, funds and accounts advised by T. Rowe Price Associates, Inc., Franklin Templeton, Adage Capital Management, and Ulysses Management.

‘We are delighted to be investing in GOAT. We are excited by its distinct value proposition to customers,’ said Tyras Bookman, Portfolio Manager at Park West Asset Management. ‘GOAT’s combination of premier e-commerce and brick-and-mortar assets, which include the iconic GOAT and Flight Club brands, enable it to engage its global community in unique ways and capture huge market opportunities across multiple lifestyle categories, while remaining authentic and true to its values.’

The proceeds from the financing round will be invested in growth in its sneaker business – good news if you ask us – as well as its rapidly growing apparel and accessories verticals. There’s also plans to expand on the business’ 13 facilities, with Chicago, China, Japan and Singapore expansions in the works.

Either way, things are looking up for GOAT’s 30 million members and 600,000 sellers!

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