StockX secures $6 million in celebrity funding
StockX, the Detroit-based “stock market of things”, recently secured $6 million in a funding round comprised of several celebrity names. Investors of this new funding round include AOL CEO Tim Armstrong, Monumental Sports & Entertainment Founder, Chairman and CEO Ted Leonsis, AOL Co-founder Steve Case, actor Mark Wahlberg, agent Scooter Braun, NFL player Joe Haden and rappers Wale and Eminem. The Detroit rapper is a previous investor.
Co-founded by Josh Luber and Dan Gilbert in February 2016, StockX offers products that can be purchased like company stock. Products are listed for pre-bidding and sold to the highest bidders. StockX was originally launched as Campless in 2012.
The company has been focused on the sneaker resale market, recently partnering with Nike to launch an auction for LeBron James’ first and latest signature sneakers.
StockX also partnered with Roc-A-Fella Records Co-Founder Kareem “Biggs” Burke for the 20th anniversary of Jay Z and Roc-A-Fella Records’ platinum debut album Reasonable Doubt.
"Allowing consumers to purchase limited-edition products at an IPO the same way they would with company stock on the New York Stock Exchange is the next step in StockX's continued growth to become a viable and better way to both buy and sell certain product categories," said Luber.
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