StockX is officially worth $1 billion after its most recent Series C funding round, co-founder Josh Luber told CNBC on Wednesday.
Scott Cutler, of eBay, will be taking over as CEOStockX has officially reached a $1 billion valuation after its most recent funding round, co-founder Josh Luber told CNBC on Wednesday.
Luber will continue to hold a position on the executive team and as a member of the board. When it comes to needing new leadership, Luber was clear that the company was still at an early growth stage and looking for leadership to take them further. StockX is positioned at the center of a continually growing sneaker resale market. "Globally, it's maybe $6 or 7 billion," says Luber. "But the global retail sneaker market is $100 billion. And that's actually the market we're a part of."The recent series C round raised $110 million, and included investors DST Global, General Atlantic, and GGV Capital. DST also financed Wish and JD.com; GGV Capital helped back Poshmark and Alibaba.
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