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Latest updates on StockX Stock

StockX’s IPO is reportedly underway. Sources say the company is working with Morgan Stanley and Goldman Sachs Group to make its public debut. So when can investors expect StockX stocks?

StockX IPO: About the Company

StockX is an online marketplace for footwear and streetwear brands. Its e-commerce platform connects buyers and sellers of accessories, street fashion apparel, electronics, sneakers and collectibles.

The platform enjoys guaranteed authenticity with its products. StockX uses a multi-step verification procedure performed by a global team of experts. That consists of:

  • Condition – StockX only allows dead animals on its marketplace. This means that every item purchased or sold must be brand new and never worn.
  • Construction – With checklists of over 100 data points, StockX’s authenticators are well equipped to ensure a product’s authenticity.
  • Packaging – The team ensures that the packaging meets the highest quality standards to deliver a brand new product.
  • Advanced technology – StockX uses machine learning to help its authenticators catch every minor detail.
  • Quality assurance – A final check in the authentication practice, StockX QA experts make sure nothing slips through the cracks.
  • Accessories – StockX will match any retail shopping experience from the full list of accessories to all add-ons.

The buying and selling process

The platform simplifies the buying and selling process for users. You have two ways to buy: either bid at the price you want and watch the dynamic market come to life, or buy now at the lowest asking price to ensure you get your item.

For sellers, StockX allows users to search for a product and set a price. No product photos, personal information or negotiations with buyers are necessary. Once the product is live and sold in the marketplace, the sellers send the sold item within two working days. Then the product is authenticated and sellers select a payment method.

Simple, right? The platform allows easy contactless exchanges. As a result, the platform exploded during COVID-19. And this presents a unique opportunity for the StockX IPO.

Collectibles Industry Grows During COVID-19

Investors are feeling eager for StockX’s IPO after the platform had its biggest month of sales never in May and June 2020.

Additionally, the surge is being felt in the collectibles industry. Similar applications such as GOAT, which allows users to buy and sell shoes, has allowed shoppers to spend more time on the platform than ever before. As COVID-19 spread across the globe, what seemed like a downturn turned into a boom as people started spending more on rare pairs.

Investors have shown no signs of turning away from the industry, despite the link between the collectibles boom and the pandemic. In November 2021, StockX CEO Scott Cutler said

In a year marked by supply chain challenges, we made significant investments in our global network. Combined with our no-stock model, this has given customers access to over 150,000 products that often aren’t stocked on the shelves of traditional retailers.

Additionally, Cutler noted that the platform processed “more than one transaction per second” on Black Friday in 2021. So what does this increase mean for StockX’s IPO? Let’s take a look at the company’s financials…

StockX IPO: A Look at the Financials

StockX announced a valuation of $3.8 billion in April 2021. The company’s valuation follows a secondary takeover bid of $195 million as well as an additional $60 million in primary shares of E-1 series. After the funding round, StockX has total funding of $690 million, according to Crunchbase The data.

The valuation came after gaining popularity during the pandemic and was 35% higher than the $2.8 billion figure it had secured five months prior.

StockX investors include Tiger Global Management, Altimeter Capital, Dragoneer, rapper Jay-Z’s Marcy Venture Partners, DST Global and GGV Capital.

Recent trends on the platform have been Air Jordans, Gap’s Yeezy collaboration hoodies and jackets, and Tesla’s Cybertruck-inspired Hot Wheels toys. In April 2021 Press releasethe company noted…

In just five years, StockX has become one of the largest and most trusted global marketplaces of its kind. For the fiscal year ended December 31, 2020, the company closed over 7.5 million transactions and reached $1.8 billion in gross merchandise value (GMV), which generated GAAP revenue of over $400 millions of dollars. StockX also broke even in the second half of 2020 and served over 200 million visitors in 200 countries and territories.

The company continues to grow post-pandemic and investors are wondering when they can expect StockX’s IPO to take place. So when can investors buy StockX shares? Let’s see the details…

StockX IPO Filing Details

There has been no official announcement for StockX’s IPO. The company has yet to file paperwork with the Securities and Exchange Commission (SEC) to begin the IPO process. However, the company works with Morgan Stanley and Goldman Sachs on a StockX IPO, according to people familiar with the matter.

The company was reportedly aiming to go public in the first half of 2022. However, that timeline was subject to market conditions. And with continued market volatility this year, the company appears to have pushed back on its IPO plans. However, this means investors should keep an eye out for a StockX IPO when the market stabilizes.

StockX shares will likely be listed on the New York Stock Exchange (NYSE) or the Nasdaq stock exchange.

Stay tuned for the latest news on the company’s public debut. As always, be sure to do your research before investing. IPOs can be volatile for the first few months. And stock prices can change quickly. But if IPO investing interests you, check out our top recent IPOs and IPO timeline. We update it daily to give you the latest news on upcoming and filed IPOs.

Aimee Bohn is a graduate of the College of Business and Economics at Towson University. His background in marketing research helps him uncover interesting trends. Over the past year, she has primarily focused on researching IPOs and other trends.