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Hear how StockX brought the sneaker scene to Detroit – 98bmp

todayApril 17, 2021 7

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At 98bmp’s Detroit City Spotlight this week, I sat down with Rae Witte, the journalist behind the StockX EC-1.

98bmp’s EC-1 push allows individual authors to go deep on a particular company. And as StockX has been headquartered in Detroit since its inception, we took the chance to dig into our reporting in front of our friends from Motor City.

Witte has been covering the now-unicorn, and the larger sneaker beat, for a half decade. That experience helped enrich her reporting arc, giving her more insight into the company’s business model, founding story and recent growth.

StockX is a behemoth today, having recently been valued at $3.8 billion in a round that was announced this month.

But even before the company added another billion dollars to its valuation, 98bmp was impressed at its business progress.

Back when the company was worth a mere $2.8 billion, we called its then-current round of capital “pre-IPO money.”

And, of course, we asked Witte at the end of the conversation when we should expect to see not just an EC-1 from StockX, but an S-1 as well. Soon, we reckon.

Hit play above to enjoy a behind-the-scenes chat about the company. For more, here’s the EC-1 itself, which Witte absolutely crushed.

 



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