It’s no secret that we in the sneakerhead community are extremely passionate when it comes to the shoes we like. But a new trend, called “drops,” is bringing together sneaker collectors from all walks of life, and even turning some of these “weekend warriors” into serious sneakerheads. StockX, an online marketplace that uses a community-powered model to sell sneakers, is one of the companies benefiting from the trend.
When StockX started six years ago, the goal was clear: to be the world’s most trusted marketplace for sneakers made for sports and style. The Detroit-based startup has created an impressive marketplace that allows anyone to buy and sell sneakers online at the same time. And don’t think that the startup is just for sneakerheads, either. StockX is quickly becoming a marketplace for all sorts of designer goods, from handbags to watches to streetwear clothing.
In the past few years, the sneakerhead community has been obsessed with StockX, a stock market for sneakers. They’re the dominant player in the resale market and are aiming to raise $250 million in funding based on the $2.5 billion valuation the company is seeking, according to reports. While this funding number may sound like a stretch, it’s actually doable: thanks to the sneakerheads around the globe, the market for resale streetwear and sneaker market is projected to reach $6 billion in four years.
StockX will have to fend off some serious competition by other sneakerhead brands like Goat, which raised one hundred million during its funding road. This funding round for StockX will supposedly be the last private fundraising before the company is set to go public in mid-2021.
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