StockX
| Company type | Private |
|---|---|
| Industry | E-commerce, resale marketplace |
| Founded | 2015–2016 |
| Founder | Dan Gilbert, Josh Luber, Greg Schwartz, Chris Kaufman |
| Headquarters | Detroit , United States |
Area served | International (including London and Eindhoven) |
Key people | Greg Schwartz (CEO), Deena Bahri (CMO) |
| Products | Sneakers, apparel, electronics, handbags, watches |
Number of employees | 800+ |
| Website | stockx |
StockX is a digital marketplace and reseller specializing mainly in sneakers and apparel. Since November 2020, its inventory has grown to include electronics like gaming consoles, smartphones, and computer components. Established between 2015 and 2016 by Dan Gilbert, Josh Luber, Greg Schwartz, and Chris Kaufman, this Detroit-headquartered firm employs more than 800 individuals.
The company maintains international branches in London and Eindhoven, alongside authentication centers located in Detroit's Corktown district, Moonachie, New Jersey, and Tempe, Arizona. Greg Schwartz serves as CEO, while Deena Bahri was named StockX's inaugural chief marketing officer in 2019.
History and operations
The startup company was created by Dan Gilbert, Josh Luber, Greg Schwartz, and Chris Kaufman in 2015 and officially launched in February 2016. Prior to StockX, Luber founded Campless, a rare sneakers platform active between 2012 and 2013 that served as StockX’s precursor. Upon acquiring Campless, Gilbert brought Luber to Detroit to act as CEO from the One Campus Martius office. StockX established its first overseas headquarters in London in October 2018. Scott Cutler assumed the CEO role in June 2019.
By August 2019, StockX had grown to over 800 employees, ranking among the fastest-expanding startups within Detroit and Michigan. The company operates an authentication hub in Detroit’s Corktown neighborhood, which was expanded in June 2018 to increase capacity beyond its original team of 15 authenticators processing thousands of shoes daily. Additional verification centers have been launched in Tempe, Arizona; Moonachie, New Jersey; West London; and Eindhoven in the Netherlands. StockX also maintains a comprehensive database of all counterfeit products detected.
The first-ever "StockX Day" event took place in Detroit in October 2017; subsequent editions attracted larger audiences and deepened connections with resellers and industry leaders. In May 2019, the company revealed its first permanent retail store located in New York City alongside new product announcements.
StockX has collaborated with celebrities and brands on philanthropic campaigns. For example, a 2017 partnership with Eminem involved raffling exclusive sneakers to raise funds for Hurricane Harvey relief efforts. Nike introduced LeBron James’ initial retro sneaker exclusively through StockX, marking Nike’s direct entry into the resale market. In 2018, StockX teamed up with Wu-Tang Clan for the C.R.E.A.M. charity initiative aimed at supporting underserved communities.
In mid-2019, StockX suffered a data breach impacting millions of accounts. Later that year, it secured a multi-year advertising deal with Bleacher Report and appointed Deena Bahri as its first chief marketing officer.
Co-founder Josh Luber exited the company in September 2020. In November 2021, StockX signed University of Connecticut basketball star Paige Bueckers as the ambassador for its basketball and women’s sports product lines. By January 2022, the platform had expanded into digital collectibles by enabling NFT transactions.
Business model
StockX functions as an online marketplace that facilitates auction-style transactions between buyers and sellers while collecting fees on payments and sales. Sellers ship items to StockX for thorough inspection and authentication before products are forwarded to purchasers. The platform utilizes a "stock market-style" dynamic pricing mechanism that reveals historical price data. Although primarily recognized for sneakers and streetwear, StockX also sells apparel, handbags, and watches. In 2017, it surpassed eBay in volume of sneaker transactions. Counterfeit goods are returned to sellers while buyers receive refunds.
The company imposes a 3% payment processing fee on resellers along with a starting transaction fee of 9.5% for new users; this percentage decreases as sellers gain experience on the platform. Prior to expanding into European markets, StockX advertised solely within the United States and accepted only U.S. dollars; by September 2018, international buyers made up approximately 15% of its customer base.
In January 2019, StockX introduced its initial "initial product offering" (I.P.O.) through a collaboration with celebrity jeweler Ben Baller to sell 800 pairs of branded slides directly to consumers.
Funding
StockX has obtained financial backing from its founder Josh Luber, along with venture capital firms Battery Ventures and GV, as well as notable personalities such as Scooter Braun, Eminem, Ted Leonsis, and Mark Wahlberg. In February 2017, the company secured $6 million in funding, followed by a $44 million investment round in September 2018 that included contributors like Steve Aoki, Marc Benioff, Don C, and Karlie Kloss. These capital injections facilitated StockX's expansion into global markets.
In June 2019, StockX completed a $110 million funding round at a valuation of $1 billion, supported by investors including General Atlantic, GGV Capital, DST Global, Battery Ventures, and GV. Later, in April 2021, the company raised $255 million during a late-stage financing event, achieving a valuation exceeding $3.8 billion.