Total amount raised
$160 Million
Latest funding date
6/1/2019
Location
StockX has successfully raised funding over 9 rounds, with the latest round being a Secondary Market round. The platform is backed by 32 investors, including notable names like Dragoneer Investment Group and Altimeter Capital.
Keep reading to explore the intricacies of StockX's fundraising journey and the investors backing this innovative platform.
What Is StockX?
StockX is an online marketplace that specializes in buying and selling limited edition and high-demand sneakers, streetwear, trading cards, handbags, and watches. The company operates in various categories, including E-Commerce, Marketplace, and Non-Fungible Tokens (NFTs).
Founded in Detroit, Michigan, StockX has grown to employ between 501 and 1000 people. The platform has successfully raised funding over 9 rounds and is backed by 32 investors.
How Much Funding Has StockX Raised?
- Round Name: Seed
- Amount Raised: Not publicly disclosed
- Date: November 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and establish a market presence.
- Round Name: Series A
- Amount Raised: USD 6,000,000
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale operations.
- Round Name: Seed
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance user experience.
- Round Name: Series B
- Amount Raised: USD 44,000,000
- Date: September 2018
- Lead Investors: Battery Ventures, Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Round Name: Series C
- Amount Raised: USD 110,000,000
- Date: June 2019
- Lead Investors: DST Global, General Atlantic, Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Round Name: Series D
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To sustain growth and enhance platform capabilities.
- Round Name: Series E
- Amount Raised: USD 275,000,000
- Date: December 2020
- Lead Investors: Tiger Global Management
- Valuation at Round: USD 2,800,000,000
- Motivation Behind the Round: To capitalize on growth opportunities and expand globally.
- Round Name: Series E-1
- Amount Raised: USD 60,000,000
- Date: April 2021
- Lead Investors: Altimeter Capital
- Valuation at Round: USD 3,800,000,000
- Motivation Behind the Round: To leverage market shifts and enhance platform capabilities.
- Round Name: Secondary Market
- Amount Raised: USD 195,000,000
- Date: April 2021
- Lead Investors: Altimeter Capital, Dragoneer Investment Group
- Valuation at Round: USD 3,800,000,000
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: USD 690,000,000. Current Valuation: USD 3,800,000,000.
Key Investors
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm that invests in both public and private markets. They led the $195 million secondary tender offering and participated in the $60 million Series E-1 primary shares issuance for StockX.
- Investment Focus Areas: Technology, consumer marketplaces, high-growth companies.
- Notable Investments: Snowflake, Uber, Expedia.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm that participated in the Secondary Market funding round for StockX. Jared Middleman is a partner associated with Dragoneer Investment Group.
- Investment Focus Areas: Authenticated products, online marketplace transparency, consumer technology.
- Notable Investments: Not publicly disclosed.
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. They led the recent Series E funding round for StockX.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- DST Global
- Details: DST Global is a venture capital and private equity firm that invests in Internet companies. They participated in the Series C funding round for StockX.
- Investment Focus Areas: Internet, technology, consumer services.
- Notable Investments: Not publicly disclosed.
- General Atlantic
- Details: General Atlantic is a global growth equity firm that provides capital and strategic support for growth companies. They participated in the Series C funding round for StockX.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for StockX?
StockX stands at the cusp of significant growth opportunities, driven by the increasing demand for authenticated products and the expansion into new categories like electronics and collectibles. With a gross merchandise value of $1.8 billion and over 200 million visitors globally, the potential for further market penetration is immense.
Future fundraising appears promising, given the recent $275 million Series E round and the $60 million Series E-1 primary shares issuance. These funds will likely fuel technological enhancements and global expansion, attracting more institutional investors.
However, challenges such as maintaining authenticity and managing global logistics could pose hurdles. Navigating competitive pressures in the rapidly evolving eCommerce landscape will also be crucial for sustained success.
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