Wale, Eminem and Mark Wahlberg Invest in StockX Sneaker Marketplace
The Detroit-based company raises $6 million USD.
With the sneaker resale market estimated to be worth $6 billion USD, it appears that investors are eager to take a slice of the pie. According to Fortune, sneaker resale site StockX has just closed a $6 million USD funding round, backed by VCs and notable figures such as Wale, Eminem, DJ Skee, Mark Wahlberg, Jon Buscemi and Scooter Braun. Its latest round of funds will help the company move into other niche verticals, including watches and handbags. Co-founder and CEO Josh Lubner initially created StockX to appropriately price and sell sneakers, eventually hoping to use the data-driven metrics to expand into other products. The startup will pivot to become a “stock market of things,” where users can participate in a “bid/ask” market in real-time, similar to an actual stock market. The company also hopes to expand its services overseas and allow foreign sellers/buyers to take part in the exchange.
