StockX online marketplace valued at $ 3.8 billion, allows some employees to sell shares

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StockX LLC, an online marketplace that sells sneakers, outerwear, collectibles and other items, said it has earned a valuation of $ 3.8 billion by selling 60 million new shares and allowing some employees to sell 195 million of their own. shares to investors at that price.

The 35% increase in valuation is ahead of the company’s expected public listing that is likely to occur as early as the second half of this year, according to people familiar with the company’s plans. Funding also comes quickly on the heels of its previous round, when StockX raised $ 275 million of new capital in December, valued at $ 2.8 billion. The company first eclipsed the $ 1 billion valuation mark in mid-2019. Altimeter Capital, an existing investor, is leading this round and Dragoneer Investment Group will join the round as a new investor. “By any metric, these valuations are very reasonable when you look at their growth rate and their economic unit and their geographic and product expansion,” said Brad Gerstner, founder and CEO of Altimeter, referring to the two most recent rounds of collection. of company funds. “StockX is really on fire as an e-commerce platform.” An expanded version of this report appears on Also popular on Meet the highest paid CEO of the S&P 500, the $ 211 million man from Paycom. China’s Greenlandic ambitions collide with local politics and US influence.