Wait, How Much?: StockX Valued at Over $1 Billion!
Big money moves from the ‘stock market of things’, as Stockx announce a $1 billion-plus valuation.
The announcement comes off the back of $110 million in funding from investment firms DST Global, General Atlantic, and GGV Capital. It’s a huge achievement for co-founder Josh Luber and his team, as they’ve achieved the mark in less than three years – not bad, if you ask us!
According to a press release, StockX plans to use the new investments to expand their international reach, specifically in Europe and the Asia. They also plan to open brick-and-mortar stores in major cities across the globe.
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Big day at @StockX. New round, new valuation ($1B wtf), new @nytimes feature (link in bio) and, most importantly, new leader. Excited to welcome @cutlersr as our new CEO, joining @greglschwartz @cavsdan and I to continue building what we started just over 3 years ago. I’ve known Scott since the very beginning. He’s been an investor, friend, advisor and mentor, and now I’m proud to call him colleague. My title is changing (to simply ‘co-founder’) but I’m not going anywhere and don’t expect my job will change much at all. I’ll still be out there spreading the @stockx word, explaining why a ‘stock market of things’ is the future of all e-commerce, doubling down on work with brands and looking for more crazy projects that they only let me do. While it still feels like it’s ‘day zero’ around here - everyone’s doing 7 jobs; so much to do; so much opportunity in front of us - there are over 800 @stockx team members who got us here, plus dozens of investors and business partners and friends and family (🙏❤️ @patacamuzzi) who have supported us, and continue to support us. This is the definition of a team win, and the team is also just beginning. Full speed ahead.
The good vibes don’t stop there, as former eBay senior VP Scott Cutler is set to succeed co-founder Josh Luber as CEO. Luber will stay on as part of the executive leadership team and board of directors.
StockX has millions of active users in nearly 200 countries.