Eddy Lu and Daishin Sugano created the sneaker marketplace GOAT in 2015. Users of the platform can purchase and trade real sneakers. GOAT has grown to be one of the biggest online retailers for sneakers, and some of the biggest names in the business have even invested in it. We shall examine who invested in GOAT in this piece.
A number of businesses and individuals, including Accel, Index Ventures, Matrix Partners, Upfront Ventures, and Y Combinator, have invested in GOAT. 60 million dollars were raised for GOAT in a fundraising round led by Index Ventures in 2018. Accel, Matrix Partners, Upfront Ventures, and Webb Investment Network also participated in the round. With this round of funding, GOAT’s total funding now stands at $97.6 million.
Being one of the most reputable venture capital firms in the world, Index Ventures’ investment was considerable. The company has made investments in a number of flourishing businesses, including Dropbox, Etsy, Slack, and Robinhood. GOAT certainly fits the bill for Index Ventures, which is known for investing in businesses with the potential to upend entire industries.
Foot Locker is a key additional investor in GOAT. The company’s valuation increased to over $1 billion in 2019 because to a $100 million investment from Foot Locker in GOAT. The fact that Foot Locker invested in GOAT was noteworthy because it demonstrated that conventional retailers were aware of the success of the sneaker sector.
The estimated net worth of GOAT as of 2021 is more over $2 billion. The business’s success can be attributed in part to its ability to set itself apart from competing shoe marketplaces by emphasizing authenticity. To verify footwear, GOAT uses a system of AI and machine learning, which has helped the business win over its users’ trust.
And lastly, who is the Flight Club’s owner? Another well-known online retailer of sneakers, Flight Club, was established in 2005. GOAT bought the business in 2018. After the transaction, GOAT acquired Flight Club as a subsidiary. Damany Weir and Gilad Jaffe, who founded Flight Club, are no longer associated with the business.
On GOAT, you can indeed sell clothing. Although GOAT is primarily a marketplace for shoes, they have since grown to include various kinds of footwear as well as apparel and accessories. It is crucial to keep in mind that GOAT has strong authenticity requirements and that all things sold through the platform must be authenticated before being put up for sale.