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StockX in Detroit Raises $275M in Series E Funding Round
Detroit-based StockX today announced it has raised $275 million in a Series E funding round that brings the e-commerce platform’s value to $2.8 billion.
StockX has raised $275 million in a Series E funding round that brings the e-commerce platform’s value to $2.8 billion. // Photo courtesy of StockX
Detroit-based StockX today announced it has raised $275 million in a Series E funding round that brings the e-commerce platform’s value to $2.8 billion.
The new funds will be used to accelerate the company’s global expansion, product innovation, and category diversification for the online marketplace.
Investment continues to come from out-of-state investors
StockX says it has raised a total of $490 million since
Nick Manes/Crain s Detroit Business
StockX is based in downtown Detroit.
StockX Inc. is gearing up for a merry Christmas and a happy new year.
The Detroit-based e-commerce platform, which bills itself as a stock market of things, announced Wednesday morning that it raised $275 million in a Series E funding round from a crop of new investors. The raise values the company, co-founded by billionaire Detroit businessman Dan Gilbert, at $2.8 billion, according to a news release. StockX says it has now raised a total of $490 million since launching in 2016.
StockX Raises $275 Million in Series E Funding Round Led by Tiger Global, the latest round values the company at $2.8 billion - Investment to accelerate global expansion, product innovation and category diversification-
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Dec. 16, 2020 /PRNewswire/
StockX today announced it has raised $275 million in a Series E funding round that values the fast-growing platform at $2.8 billion post-money. The new investment will be used to accelerate global expansion, product innovation and category diversification for the e-commerce marketplace. In the third quarter, StockX not only achieved break-even, but also surpassed $3 billion in lifetime gross merchandise value (GMV). During 2020, StockX s year-over-year revenue growth has accelerated, reaching over 75% in Q3 on over $100 million in quarterly GAAP revenue.