StockX, the fast-growing auction platform for heritage sneakers and other collectibles, has started working on a public offering with Morgan Stanley and Goldman Sachs, said Bloomberg, quoting “people with knowledge of the matter.” The report, which could not be confirmed, comes a couple of months after StockX announced its first acquisition, taking over Scout, which has developed a cloud-based inventory management solution.
StockX was said to be planning to go public sometime this year after a funding round that took place in April 2021, which valued the company at $3.8 billion, according to Reuters. A few months earlier, a previous funding round had valued it at around $2.8 billion. StockX reported at the time revenues of more than $400 million and a gross merchandise value (GMV) of $1.8 billion for 2020. It subsequently reported a 90 percent increase in GMV for the first half of 2021.
Founded in 2016, StockX began with sneakers but has since diversified into clothing, trading cards and other products include video game consoles and other electronics. According to Bloomberg, the current shareholders in the company include Tiger Global Management, Altimeter Capital, Dragoneer, the rapper Jay-Z’s, Marcy Venture Partners, DST Global and GGV Capital.
