StockX LLC, an online marketplace that sells sneakers, streetwear, collectibles and other items, said it made a $ 3.8 billion valuation by selling $ 60 million in new shares and leaving some employees to sell its own shares for $ 195 million to investors at that price.
The 35% increase in valuation comes ahead of the company’s expected public listing, which is likely to happen immediately after the second half of this year, according to people familiar with the company’s plans. Funding also comes quickly from its previous round, when StockX raised $ 275 million in new capital in December, valued at $ 2.8 billion. The company first eclipsed the $ 1 billion valuation 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 value, these assessments are very reasonable when we look at their growth rate and the economy of the unit, as well as the geographical expansion and products,” said Brad Gerstner, founder and CEO of Altimeter, referring to the most recent rounds of fundraising of the company. “StockX is really on fire as an e-commerce platform.”
Altimeter and Dragoneer recently benefited from another dizzying evaluation jump. Earlier this year, they led a new round of funding for the Roblox Corp. video game platform, placing the company in January for $ 520 million at $ 45 a share. Roblox made its debut through a direct listing in March, and its shares recently traded around $ 70.