StockX today announced its Series E funding led by Tiger Global. The $275 million funding round values the company at $2.8 billion at a post-money valuation. The company intends to use the cash to accelerate global expansion and product development, and to expand StockX’s categories. Rumors are swirling that this financing will allow the company to offer an initial public offering in 2021.
Tiger Global Management led the round with participation from Altimeter Capital, Sands Capital and Whale Rock Capital Management.
“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,” said StockX CEO Scott Cutler in a released statement. “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.”
Source: Tech Crunch
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