A Giant New Investment Will Make StockX The First Billion-Dollar Sneaker Reseller

by MR Magazine Staff

The online sneaker resale marketplace StockX is in advanced talks to be valued at at least $1 billion in a new round of financing, Recode has learned. DST Global, the late-stage venture firm run by Russian-American billionaire Yuri Milner, is expected to lead the deal, according to people familiar with the matter. It will be the latest bet by the firm on an e-commerce startup after backing companies like DoorDash, Wish, and Faire. The exact size of the financing round couldn’t be learned. Another expected participant is GGV Capital, the venture firm famous for investing in both the US and China, according to the people. StockX is planning to make some other major company announcements when it unveils the fundraising round, which is likely to be closed in the next few weeks. Read more at Recode.