StockX LLC, an online marketplace that sells sneakers, streetwear, collectibles and other items, said it achieved a $ 3.8 billion valuation by selling $ 60 million in new stock and some employees $ 195 million in own shares to investors. sell at that price.
The 35% rise in valuation comes on the company’s expected public listing, which, according to people familiar with the company’s plans, is likely to occur as early as the second half of this year. Funding is also quickly following on the heels of the previous round, when StockX raised $ 275 million in new capital in December and valued it at $ 2.8 billion. The company first passed its $ 1 billion 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 measure, these valuations are very reasonable when you consider their growth rate and their unit economy and their geographic and product expansion,” said Brad Gerstner, founder and CEO of Altimeter, referring to the company’s two most recent fundraising rounds. “StockX is really on fire as an e-commerce platform.”
Both Altimeter and Dragoneer have recently benefited from another dizzying valuation jump. Earlier this year, they led a new round of funding for video game platform Roblox Corp., investing $ 520 million at $ 45 per share in January. Roblox made its direct listing debut in March and its shares recently traded around $ 70.