Fast-growing StockX mulls IPO - report
Sneaker market StockX is planning an IPO and is already working with Morgan Stanley and Goldman Sachs on the project, a report has claimed.
Bloomberg cited “people with knowledge of the matter” saying that the online exchange for sneakers and streetwear brands will list its shares in the US.
But the company itself isn’t saying anything. “I cannot comment on market speculation or rumours” a spokeswoman told the business insight organisation, adding that the firm is continuing to invest in itself and is fully focused on growth and execution.
The financial institutions were staying tight-lipped too.
But an IPO would make sense for the firm that has ridden a huge wave of interest in collectibles and has seen prices of the most coveted shoes and apparel pieces going through the roof both before and during the pandemic.
Founded in 2016, StockX began by connecting buyers and sellers of in-demand sneakers but has since moved not only to clothing but to other goods such as games consoles and Pokémon cards.
Its current investors include Tiger Global Management, Altimeter Capital, Dragoneer, rapper Jay-Z’s Marcy Venture Partners, DST Global and GGV Capital, Bloomberg said.
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