Lifestyle Goods Resale Marketplace Stockx Raises $110m, Pushing Valuation Past $1b

Detroit-based StockX, which provides a way for people to resell luxury and lifestyle goods including streetwear, bags, watches and shoes, is now valued at over $1 billion based on its most recent raise of $110 million, just revealed by the New York Times. Alongside the raise, StockX is bringing on a new CEO – ecommerce vet and former eBay SVP Scott Cutler. Cutler replaces co-founder Josh Luber at the helm of the company, but he’ll continue to be the “public face” of the company according to the NYT, which is not unusual for a founder-led company when it brings on more traditionally experienced executives to steer the startup through periods of aggressive growth and business maturation. StockX’s success rode the sneaker culture boom of the past half-decade or so, as the startup first focused exclusively on acting as a resale source for shoes with high levels of hype.