It’s recently been announced by StockX that their Series E funding (totaled at $275 million USD) is on its way. Following the funding, StockX’s valuation is expected to jump to about $2.8 billion USD.
StockX has stated that the new series of funding will be put towards its global expansion, in addition to efforts to further develop its products, though it is speculated that the funding will be given as a preparation for an initial public offering coming as soon as 2021. As of now StockX has raised a total of $490 million USD.
Scott Cutler the CEO of StockX had this to say in a statement: “The quality of investors joining us is a clear signal that the market recognizes that there is incredible opportunity in e-commerce for current culture products and StockX is best positioned to meet consumer demand for those products,” he said. “I’m thrilled to welcome our new partners to the team — their collective expertise will be invaluable as we continue to build on the momentum from the last year, and drive the growth to cement StockX’s position as the global marketplace leader.”
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