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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 - Success - Sneaker - Culture - Boom
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. Their unique value prop, for consumers, was offering a verification service so that you knew when you were...
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