. According to Cutler, 50 percent of StockX’s trades in 2022 came from international sellers, up from 25 percent the previous year.
Despite its reported growth, StockX conducted multiple rounds of layoffs last year. One round took place in July and was reported to have impacted 8 percent of the total workforce, and another round came in November and was said to have impacted fewer than 80 employees. In early 2022, it was reported that StockX was preparing for an initial public offering; however, Cutler explained that is no longer the company’s priority.
StockX was last valued at $3.8 billion in 2021 following a $195 million secondary tender offering and $60 million in Series E-1 primary shares. Cutler declined to comment on the company’s current valuation, but stated that StockX is a “well-capitalized business.” , with the sports giant alleging trademark infringement over StockX’s launch into non-fungible tokens. Nike has also accused StockX of selling counterfeit styles on its platform.
stockx Scott cutler is an unparalleled douche