Market value jumps to $3.8 billion, users exceed 200 million, US StockX sprints for IPO

Recently, StockX in the United States announced that it has received another $255 million in financing, and the company's current valuation has exceeded $3.8 billion. This round of financing is very likely to be the last round of financing before StockX goes public. According to foreign media reports, the company plans to go public in the second half of this year.

StockX's revenue in 2020 reached $400 million

StockX is located in Detroit, USA. It is an online marketplace and clothing distributor. It currently has more than 200 million users . Its business categories have expanded from focusing on sneakers to selling sneakers, street clothing, collectibles, electronics and other items. There are currently 115,000 products on the platform for customers to choose from.

The COVID-19 pandemic has led to a surge in sales of sports and leisure products, and StockX has benefited from the sudden change in consumer spending. As of December 31, 2020, the company had more than 7.5 million transactions , a total merchandise value of $1.8 billion, and record revenue of $400 million. From its founding in February 2016 to June 2020, StockX previously reported a total transaction volume of $2.5 billion , which is enough to show its rapid growth in 2020 .

In fact, the resale market is becoming increasingly popular with shoppers of all ages. The Real Real went public in 2019, Poshmark debuted earlier this year, and similar sites such as Stadium Goods, Goat, and Stadium Good have achieved impressive results, but StockX has been called a unicorn in the industry.

Gaming hardware is the most profitable item on StockX

According to Wall Street, StockX will sell $60 million in new shares and have some employees sell $195 million of their own shares to investors at that price. Compared with its last round of financing in December last year, StockX's valuation has risen by 35%, and the company is currently preparing for an IPO in the second half of this year.

Its partners said that for consumers of Generation Z and millennials, StockX has quickly established itself as one of the most important online markets and opened up many opportunities for business growth . Just like its category expansion plan, from the earliest single sneakers to the current full category, the number of its brands has also expanded from 17 to more than 500.

It is worth noting that although StockX did not officially launch electronic products until November 2020, its gaming console hardware has quickly made a good start and become the site's most profitable product.

A StockX spokesperson said that the company 's current focus is on global expansion and category diversification while continuing to develop its core business. According to survey data, the global sneaker resale market is expected to reach $30 billion by 2030, and StockX is expected to reach a new peak.

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