StockX now valued at $1 billion-plus

StockX has joined the unicorn club after a $110 million funding round put its valuation at over $1 billion.

The US-based company is perhaps best known for being a go-to platform for the nearly $6 billion sneaker resale market, although users can also buy and sell streetwear, handbags, luxury watches, and other popular collectibles as if they’re shares of a company.

The $110 million Series C funding round was headed up by DST Global, General Atlantic and GGV Capital. StockX plans to use the cash for international growth with a specific focus on Europe and the Asian markets. The funding will also allow it to diversify its product categories and extend its offline reach with bricks and mortar locations in key international markets.

“We have long seen the value of investing in e-commerce disruptors and StockX is no exception. It is more than a marketplace; the platform's unique model is truly changing the way consumers engage in the purchasing process and has global growth potential,” says Hans Tung, Managing Partner at GGV Capital, who also joined StockX's board of directors as part of the transaction.

"StockX has already seen incredible growth internationally but what we are most excited about is the opportunity to continue to scale the company globally and provide unprecedented access to consumer goods for users across the world."

The company has also appointed Scott Cutler as CEO. He succeeds Co-founder Josh Luber, who will continue to serve on the executive leadership team and board of directors. Cutler joins from eBay, where he most recently served as Senior Vice President, Americas.