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…