The StockX megaround smells like pre-IPO money
December 16, 2020 at 16:58 PM EST
An IPO? A shoe-reselling marketplace? Sure! At the numbers we know about it, why not?
Earlier today, TechCrunch reported that consumer reseller marketplace StockX raised $275 million at a valuation of approximately $2.8 billion.
Selling a tenth of your company for north of a quarter-billion may be somewhat common among late-stage software startups with tremendous growth, but one known for its market share in the sneaker resale niche? Don’t laugh, the round actually makes pretty OK sense. And given the growth that StockX has managed, it could have a path to the public markets in under a year.
Don’t laugh, the round actually makes pretty OK sense.
In our piece covering the funding round, Matt Burns wrote that StockX saw its nondomestic sales rise 260% in Q3 compared to the year-ago period, recording half of its 13 million transactions in the last 12 months.
But that wasn’t really enough to get my head around the round, so I went hunting. Here’s a grip of other, dated growth metrics that help us put the new funding into proper context: