MarketStockX
Company Profile

StockX

StockX is an online marketplace and clothing reseller, primarily of sneakers. Since November 2020, it has also opened up to electronic products such as game consoles, smartphones and computer hardware. The Detroit-based company was founded by Dan Gilbert, Josh Luber, Greg Schwartz, and Chris Kaufman in 2015–2016. StockX has more than 800 employees in Downtown Detroit. StockX currently has international offices in London, UK, in Eindhoven, the Netherlands, and has authentication facilities in Detroit's Corktown neighborhood, Moonachie, NJ, and Tempe, AZ. Greg Schwartz serves as chief executive officer and Deena Bahri became the company's first chief marketing officer in 2019.

History and operations
The startup company was founded by Dan Gilbert, Josh Luber, Greg Schwartz, and Chris Kaufman in 2015, and launched in February 2016. Luber had previously founded StockX's predecessor website about rare sneakers called Campless (established during 2012–2013), a site which was featured in Josh Luber's TED Talk on the sneaker market. After Gilbert acquired Campless from Luber, Luber relocated from Philadelphia to work from Gilbert's One Campus Martius building in Downtown Detroit as chief executive officer. Scott Cutler was appointed chief executive officer in June 2019. The company has more than 800 employees, as of August 2019. StockX is among the fastest-growing startups in Detroit and Michigan, as of late 2018. In addition to the One Campus Martius office, StockX has an authentication facility in Detroit's Corktown neighborhood. In 2019, the company opened a fifth authentication center in Eindhoven, Netherlands. StockX maintains a catalog of all fake items received. and NIKE x Off-White) The company's first "StockX Day" event in Detroit, which invited resellers, platform users, and industry influencers to meet employees and see operations, was held in October 2017 and attended by approximately 200 people. In May 2019, the company held a third "StockX Day" event for an audience of 300 and announced the opening of its first permanent location in New York City along with several major product updates. StockX has collaborated with numerous celebrities and companies on charitable initiatives. In 2017, Eminem collaborated with the company to raffle off his Air Jordan sneakers designed in collaboration with Carhartt to raise funds for the Greater Houston Community Foundation Hurricane Harvey Relief Fund and Team Rubicon to support relief efforts in Texas and Florida following Hurricane Harvey. Nike Inc.'s debut of LeBron James' first retro sneaker via StockX marked the first time the brand bypassed retail and went directly to the secondary market. StockX suffered a data breach in mid-2019. In September, the company and Bleacher Report reached a multiyear advertising agreement, and Deena Bahri became StockX's first chief marketing officer. In September 2020, StockX co-founder Josh Luber left the company. In November 2021, StockX announced that it had signed UConn basketball player Paige Bueckers as its primary spokesperson for its basketball and women's sports lines. In January 2022, StockX announced the ability to buy and sell NFTs on its marketplace. == Business model ==
Business model
StockX serves as an online marketplace, facilitating auctions between sellers and buyers, StockX charges a 3 percent processing fee for all resellers, and a 9.5 percent transaction fee for new users, which decreases with experience. The shoes were printed with the phrase "Ben Baller did the chain", a lyric from ASAP Ferg's song "Plain Jane" (2017). The company raised $6 million in February 2017. In addition to Battery and GV, investors included Steve Aoki, Marc Benioff, Don C, and Karlie Kloss. As of April 8, 2021 an article by Reuters states "Sneaker marketplace StockX said on Thursday it had raised $255 million in a late-stage financing round, valuing the company at more than $3.8 billion." ==References==
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