Goldin Auctions, a Runnemede, NJ-based marketplace for collectibles and trading cards, raised approx. $40m in growth financing.
The Chernin Group led the round, with participation from Adam Bain and Dick Costolo from 01 Advisors; Mark Cuban; Kevin Durant and Rich Kleiman from Thirty Five Ventures; LightShed Ventures, led by Rich Greenfield; YouTube Co-founder Chad Hurley; Craft Ventures Co-Founder Bill Lee; musician and record producer Timothy “Timbaland” Mosley; Christian Oestlien, VP Product at YouTube; entrepreneur and creator Logan Paul; Anthony Pompliano of Pomp Investments; Shiva Rajaraman, VP Product, Facebook; Zillow and Hotwire Co-Founder Spencer Rascoff; Bill Simmons, Founder and CEO of The Ringer; Dwyane Wade of Wade Ventures; Mark Wahlberg; and NFL quarterback Deshaun Watson from Bleecker Trading.
The company will use the funding to invest in technology, operations and audience development.
Ross Hoffman, who has held senior positions at Twitter, Google and Headspace, is also joining Goldin Auctions as its new CEO. He will oversee the development of innovative new products and experiences. Hoffman will run the day-to-day operations of the business alongside founder Ken Goldin, who is moving into the new position of Executive Chairman and Founder. In this new role, Goldin will leverage his knowledge, history and relationships in the collectibles industry to help lead the company’s continued growth.
Goldin Auctions is a marketplace for trading cards, sports memorabilia and other collectibles. The company is the official auction partner of the Naismith Memorial Basketball Hall of Fame, The Major League Baseball Players Alumni Association, The Jackie Robinson Foundation and the Babe Ruth Birthplace and Museum.
Ken founded Goldin Auctions in 2012 and built the company from a start-up grossing $800,000 in its first year to over $100 million in 2020. To date, Goldin Auctions has overseen more than $300 million in sales. Last month, the company shattered the industry record for the largest sports collectibles auction ever, completing $33 million in sales for over 1,000 items, including incredibly rare Michael Jordan, Patrick Mahomes and Mickey Mantle trading cards. Goldin has been in the collectibles industry his entire life and has forged relationships with legendary figures including Shaquille O’Neal, Muhammad Ali, Joe Montana, Hank Aaron, Mickey Mantle, Barry Bonds, Kareem Abdul-Jabbar, Wayne Gretzky and many others.
Prior to joining Goldin Auctions, Hoffman served for seven years as Vice President of Partnerships at Twitter, where he led the company’s Global Content Partnerships & Brand Strategy team and helped drive $750 million of revenue annually. Before that, he held the title of Business Development & Strategic Partnership Manager at Google, overseeing YouTube’s first live streaming team. He most recently served as Chief Business Officer at popular meditation app Headspace, where he helped diversify and grow the business to more than $100 million in revenue.
About Goldin Auctions
Founded by Peter Chernin, Jesse Jacobs, and Mike Kerns, TCG, an affiliate of The Chernin Group, LLC, is an investment firm dedicated to building consumer businesses. The TCG team has a track record of working with world-class consumer brands in content, commerce, and consumer-tech, including Crunchyroll, Headspace, MeatEater, Exploding Kittens, Food52, The Action Network, and Barstool Sports.