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With investments from Eminem & Mark Wahlberg…
With the resale value of sneakers soaring to astronomical prices no wonder why celebs like Eminem, Mark Wahlberg, and Scooter Braun are already and heavily invested in the next big thing before it becomes a big thing. It wasn’t just a few years ago (2017) the StockX app received a combined $44 Million investment which included the above investors into taking the resale sneaker app to the next level. Not only is StockX one of the reigning resale apps for sneaker heads in the market globally it is also the largest and most valuable to date.
Just last year (2018) the estimated value was around $150 million, fast forwarding a year later including names on investors like Jon Buscemi, the fashion and sneaker designer have became part of the Billion dollar venture. StockX was destined to be the most ambitious of all the resale platforms, where sneakers above all was the company’s core business. Eventually and inevitably the business evolved into a streetwear resale market, along with watches and handbags. But the grand vision was achieved at a $1B evaluation over the week for the site where they treat these goods like stocks, generating something like the true market value for an item with disregard for retail prices.
Along with this news of being a Billion dollar business the announcement that adds the former eBay executive, Scott Cutler, as the new CEO has been declared in hopes of creating a better globally scaled business across the seas.