StockX LLC, an online marketplace that sells sneakers, streetwear, collectibles and other items, says it hit a $ 3.8 billion valuation by selling $ 60 million in stock. new and allow some employees to sell $ 195 million of their own shares to investors at that price.
According to people familiar with the company’s plans, the valuation of a 35% increase ahead of the company’s expected public listing is likely to happen as early as the second half of the year. Funding also quickly came after the previous round, when StockX raised $ 275 million in new capital in December, valuing it at $ 2.8 billion. The first company was overshadowed $ 1 billion valuation mark in mid-2019.
Altimeter Capital, an existing investor, is leading this round and Dragoneer Investment Group will be joining the round as a new investor.
Brad Gerstner, founder and CEO of Altimeter, said: “By any metric, these valuations make a lot of sense when you look at growth and unit economy as well as expansion. Their geography and products, ”said Brad Gerstner, founder and CEO of Altimeter, referring to the company’s two most recent fundraising rounds. “StockX really exploded as an e-commerce platform.”
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