StockX, a Detroit, MI-based online consumer “stock market of things”, closed a $6m round of funding.
Backers included Mark Wahlberg, Eminem and Paul Rosenberg (previously announced), Ted Leonsis, Steve Case, Tim Armstrong, Scooter Braun, Jon Buscemi, Wale, Joe Haden, DJ Skee and Silicon Valley investor Ron Conway and his SV Angel fund. Additional investors include Courtside Ventures and Detroit Venture Partners.
The company intends to use the funds to accelerate the expansion to other verticals, including watches and handbags, launch more StockX Product Offerings and continue to penetrate into the sneaker market.
Founded by Josh Luber and Dan Gilbert, StockX is a consumer goods marketplace that connects buyers and sellers using a live “bid/ask” market – like stock markets. Participants buy and sell authenticated products in a live marketplace where they anonymously trade with stock market-like visibility.
The StockX exchange offers buyers and sellers historical price and volume metrics, real-time bids and offers (asks), time-stamped trades, individualized portfolio tracking and metrics, as well as in-depth market analysis and news.
The company launched its inaugural marketplace in the secondary sneaker space with plans to expand to additional consumer product segments that have a natural need for a live secondary market.