The Goat Group, the parent of sneaker marketplace GOAT and Flight Club, was recently valued at $3.7 billion in a Series D funding round.
This significant milestone for the company shows the increasing demand for online retail of sneaker exclusives and classic footwear.
This article will look at the company’s success and explain why it has become so valuable in such a short time.
Overview of the Goat Group
The Goat Group, formerly GOAT, is a sneaker marketplace that has established itself as the leading name in the world of sneakers. Founded in 2015 by Eddy Lu and Daishin Sugano, it was previously known as “Greatest of All Time”. The company has since evolved and become one of the largest sneaker platforms. With millions of members who have bought more than 15 million sneakers in over 2,000 cities worldwide, Goat is helping to shape the future of sneaker culture.
The company’s focus on authenticity and quality has allowed it to become a trusted source for buyers and sellers looking for high-end authentic shoes. It also prides itself on its mobile offering, allowing consumers to shop from any device with ease from wherever they are located. This type of technological innovation has pushed it past its competitors regarding user experience.
Recently, the Goat Group announced that it had received $308 million Series F funding round led by Australia’s ed-tech investment firm Seek Ltd., valuing the company at $3.7 billion post-money—making GOAT the first sports consumer brand unicorn ever IPO’d in U.S. history and one of only a handful of unicorns based out of Los Angeles alongside SpaceX and Tinder (Komsomolskaya Pravda). This raises the total funds raised by Goat Group up to over half a billion dollars – this includes an additional private equity investment in May 2020 which resulted in funding totaling more than $100 million for that round alone (TechCrunch). Such an impressive number speaks volumes about the growth potential for this unique enterprise going forward into 2021.
Goat Group, Parent of Sneaker Marketplace, Valued at $3.7 Billion in Latest Funding Round
The Goat Group, the parent company of the sneaker marketplace Goat, has been valued at around $3.7 billion in its latest funding round. This is a substantial jump from the company’s previous valuation of around $2 billion earlier this year.
Let’s take a look at the details of the latest funding round and what it could mean for the future of the Goat Group.
Details of the latest funding round
Goat Group, the parent company of sneaker marketplace GOAT, has raised $100 million in a new funding round that values the company at $3.7 billion. The round, led by Coatue Management and AEA Investors, included participation from other investors such as Foot Locker and Accel.
This marks the first major institutional investment for Goat Group since it raised $25 million in 2017. It also sets a record for the highest valuation an e-commerce company receives in a single fundraising round.
The latest round of funding will be used by Goat Group to focus on new technology and expand into new markets within Europe and Asia Pacific regions. In addition, it also plans to invest in its growing businesses that offer consignment services, online payments systems and authentications verification tools. These investments will support the long-term ambition of becoming a global platform that serves both buyers and sellers of second hand sneakers.
Goat Group has more than 11 million active app users across more than 170 countries who are looking to buy or sell sneakers from popular brands like Nike, Adidas, Jordan Brand and Yeezy Supply. The company is also making headway into extended verticals with disruptive business models like virtual popup shops for branded products called Unlocked; game-changing vaults which enable brands/partners to keep their inventory completely safe; and monthly subscriptions offering exclusive access to product releases at GOAT Stores around the world.
Investors involved in the round
Goat Group, the parent company of the sneaker marketplace Goat, has been valued at $3.7 billion after a recent funding round. The round totaled $100 million and was led by Foot Locker and Ranger Global, along with participation from celebrities including Pop Smoke and Ryan Reynolds.
This successful round comes shortly after a Series E fundraising of $100 million in May 2020, valuing the company at $550 million. This new round is expected to drive growth and further boost the status of online footwear marketplaces going forward.
Key investors of this most recent funding round include:
- Foot Locker: A leading global retailer of athletic footwear and apparel who operate 5500 stores across 20 countries, including North America, Europe, Asia Pacific and Africa. The retail giant has invested $60 million into Goat Group as the lead investor in this current round.
- Ranger Global: Based in Guernsey UK with offices in Tel Aviv, Ranger Global is a venture capital firm focusing on Israeli tech startups such as Docady and SafeDK Mobile Services Ltd. Ranger Global invested $20 million in this most recent Goat Group, Inc funding round.
- Pop Smoke: An up-and-coming rapper from New York City who rose to fame with his debut studio album ‘Shoot for the Stars Aim for the Moon’ which reached No 1 on the US Billboard 200 chart in July 2020. Pop Smoke has invested an undisclosed amount into Goat Group during this recent funding round showing his support for the sneaker marketplace software company which operates out of Santa Monica in California USA.
- Ryan Reynolds: Canadian actor best known for playing Deadpool in Marvel’s comic book superhero movie franchise whose investment boosted this latest funding round for Goat Group Inc..
Valuation of the company
Goat Group, the parent of the popular sneaker marketplace Goat, has reportedly been valued at $3.7 billion after a recent funding round. The startup is said to have secured the funds from venture capital firm Coatue and other strategic angel investors and retail giants such as Foot Locker and Middle Eastern conglomerate Majid Al Futtaim.
The latest fundraising round for Goat Group marks a significant milestone for the sneaker marketplace, with its current market capitalization nearly tripling from its last round in 2019. Over 60 million pairs of shoes were sold on Goat in 2020 alone and it appears that the company is continuing to grow despite challenging market conditions amidst the ongoing pandemic.
Goat’s unique business model provides customers worldwide with access to exclusive footwear not found anywhere else, helping increase demand and subsequently driving up valuation of the company. The recent funding is expected to help continue this upward trajectory towards bringing fashion into an ever-evolving digital space and furthering innovation within eCommerce technologies utilised by clothing retailers and buyers alike.
Impact of the Funding Round
The recent funding round for Goat Group, the parent of the popular sneaker marketplace, has valued the company at $3.7 billion. This strong valuation puts the company in a secure financial position, and the funding could impact its future.
In this article we will explore the likely impacts of the round on Goat Group and the sneaker marketplace.
Impact on the company
The latest funding round for the parent of sneaker marketplace Goat Group significantly enhances its value. The company is now reportedly valued at an impressive $3.7 billion, following the completion of the investment round. This increase in valuation means that the company is set to become even more prominent in the highly competitive sneaker marketplace industry.
This new round of funding has already considerably impacted the company, providing them with fresh capital to invest in their operations and expand their reach. As a result, goat Group can now exploit new opportunities while advancing their existing products and services.
In addition, as one of the leaders in its market, this new round will open up many more strategic partnerships with other companies. Finally, the immense financial power that this funding provides will allow Goat Group to make significant changes within the industry, setting them up for continued growth and success.
The news surrounding this massive financial injection also highlights just how big a part technology plays in today’s economy and provides a great example showcasing what’s possible when power and resources are in abundance. Furthermore, it demonstrates that success can be achieved through careful financial planning, strategic investments and innovative business models which help companies unlock their full potential.
Overall, it’s clear just how much responsibility lies on founders across all industries; however financial support can often make all the difference for businesses on their journey towards success – as we see from this example of Goat Group’s recent 3.7 billion dollar funding round!
Impact on the industry
The recent funding success of the Goat Group, parent company of sneaker marketplace GOAT, has significantly impacted both the fashion and technology industries. In its latest fundraising round, the Goat Group was valued at an impressive $3.7 billion. This investment supports the innovative platform created by GOAT, which has become one of the premier destinations for second hand sneakers.
The looming presence of a massive competitor like GOAT will likely have a transformative effect on other footwear marketplaces. By increasing access to pre-owned sneaker brands at reduced prices, GOAT has furthered consumer demand for resale fashion and expanded purchasing power from those with trust issues about buying secondhand items online. At the same time, companies such as StockX and eBay must scramble to remain competitive in this newly lucrative sector.
Moreover, the global sneakerhead population celebrated this news as further evidence that their fandom is now more mainstream than ever before. With its high brand recognition, trusted customer service and wide selection of consumer-preferred sizes and product styles, it’s easy to see why GOAT has become a beloved choice among sneakerheads worldwide — especially with its newest financial boost!
In conclusion, the Goat Group is a major financial success. Valued at $3.7 billion in its most recent funding round, the Goat Group is one of the most successful sneaker marketplaces in the world. This success is a testament to the hard work of its founders and employees, and speaks to the power of innovative technology and marketing.
Summary of the article
The Goat Group, a company best known for its sneaker marketplace and a parent company to stockX, has been valued at $3.7 billion thanks to their latest funding round. This new valuation is a huge increase from the previously recorded valuation of $1.75 billion back in 2018.
Led by Foot Locker and General Atlantic, the current funding round has attracted high-profile investors such as Qatar Investment Authority and Iconiq Capital. The additional capital of $198 million will allow the Goat Group to expand into other related services such as used textbook sales, apparel rentals, and smartphone trade-ins while continuing to be focused on sneakers.
CEO Eddy Lu commented that the recent investment “will drive the next stage of growth for our business” citing increased innovation of opening more retail stores worldwide, offering 24/7 customer service, and “fine-tuning” their inventory system for improved user experience online.
Clearly demonstrated by this successful funding round and substantial increase in valuation—the Goat Group has shown its capability in becoming an important player in not just the sneaker market but any market involving secondary buying and selling opportunities.