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Sneaker reseller StockX’s valuation jumps to $3.8 billion

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Scott Cutler, CEO, StockX

Scott Mlyn | CNBC

StockX, after a record year of revenue, completed a new funding round that values the high-end sneaker reseller at $3.8 billion.

On Thursday, StockX announced the conclusion of a $195 million secondary tender offering as well as an additional $60 million in Series E-1 primary shares.

“This news signals the broad recognition and excitement for the long-term value of StockX’s business,” said CEO Scott Cutler in a press release,  “Fundamental shifts in both consumer buying and investing behavior provide an immense growth opportunity for StockX.”

Altimeter Capital led the all-cash offer that included previous investors and new investor the Dragoneer…



Source cnbc.com

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