StockX

StockX is service of sale of second-hand sneakers. He mediates between sellers and collectors of rare sneakers. Before sending footwear to the buyer, the staff of StockX verifies its authenticity. The cost of many sneakers exposed on the website  reaches  tens of thousands of dollars. And the most expensive model  is estimated  at $6.5 million (for April 23, 2019).

The commission of the online exchange from each transaction begins from $5. Besides, the 12.5 percent transactions and payments commission undertakes. The range of StockX gradually extends, and by April, 2019 there it also includes hours, bags and clothes. 

StockX is founded in 2016  by Dan Gilbert  — the entrepreneur and the owner of Cleveland Cavaliers basketball club taking the 233rd place in the Forbes list with a status of $7.2 billion (on April 23, 2019).

History

2019: The DST Global fund of Milner invested in StockX

On April 22, 2019 it became known of a round of financing of StockX in which the DST Global fund of the Russian billionaire Yury Milner took part.  The Chinese fund GGV Capital was among other investors of service of sale of second-hand StockX sneakers.

Yury Milner invested in service of sale of second-hand StockX sneakers which was estimated at $1 billion

Investment volume, the attracted StockX according to the results of the investment transaction, is not reported. According to the Re/code edition, the company was estimated at $1 billion, i.e. became a so-called unicorn. Such cost was not reached earlier by any startup in the market of second-hand sneakers, said in the publication.

To this round of financing StockX received from investors in total $50 million, data of CrunchBase service demonstrate.^[1]

According to Re/code, by April, 2019 daily sales on StockX exceed $2 million, service remains unprofitable as a lot of money spends for the international expansion, expansion of the range and also for creation and updating of the centers of order processing.

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