StockX is currently owned by a group of investors, including co-founder Josh Luber. However, the ownership structure of StockX has evolved over time. Let’s delve into the history and ownership of StockX in detail.
StockX was founded in 2015 by Josh Luber, Dan Gilbert, Greg Schwartz, and Chris Kaufman. The initial idea behind StockX was to create a “stock market of things” where users could buy and sell limited edition sneakers as if they were trading stocks. This innovative concept quickly gained traction, and StockX became a popular marketplace for sneaker enthusiasts.
In June 2019, StockX announced a significant investment round led by venture capital firms DST Global, General Atlantic, and GGV Capital. This funding round valued StockX at $1 billion, propelling it into the unicorn club of startups. As a result, these investors acquired a portion of the company, diluting the ownership stakes of the original founders.
However, the most notable change in StockX’s ownership occurred in December 2019 when co-founder Josh Luber stepped down as CEO. At that time, Scott Cutler, the former president of StubHub, was appointed as StockX’s new CEO. This leadership transition sparked speculation about how it might impact the company’s direction and ownership.
Despite stepping down as CEO, Josh Luber remains involved with StockX and continues to hold an ownership stake in the company. This demonstrates his ongoing commitment and belief in the marketplace he helped create. While the exact percentage of ownership for each individual investor is not publicly disclosed, it can be assumed that the original founders, including Luber, still hold significant ownership stakes.
StockX is currently owned by a group of investors, including co-founder Josh Luber. The ownership structure has evolved over time due to funding rounds and the appointment of a new CEO. However, Luber’s continued involvement in the company indicates his ongoing ownership stake and dedication to StockX’s success.