Dan Gilbert's StockX, an online sneaker resale marketplace, looks to be headed for unicorn status thanks to a reported investment from Hong Kong-based DST Global.
The website Recode reported that StockX is in advanced talks for an investment led by the late-stage venture investor that would value the business at least $1 billion
DST Global, founded by Russian-American billionaire Yuri Milner.
StockX was co-founded in 2016 by Gilbert — founder of Quicken Loans and Rock Ventures as well as owner of the Cleveland Cavaliers NBA franchise — along with CEO Josh Luber and COO Greg Schwartz.The company provides a stock market-like platform for reselling collectible sneakers and luxury goods.
The company reportedly handles $2 million of transactions a day.