Friday Fundings: StockX, Bolt, and ClickUp

StockX Valuation Hits $2.8 Billion

In a recent $275 million funding round for StockX, the online shopping platform popular with sneaker collectors doubled its 2019 valuation to reach $2.8 billion. StockX has now raised a total of $490 million.

10 million shoppers browsed sneakers, streetwear, handbags, and electronics on StockX over Black Friday weekend. The platform feels somewhat like shopping on the stock exchange because customers can view data like the 52-week high and volatility for popular items.

StockX generates revenue by charging a percentage of each purchase made on the platform. The company was profitable for the first time in the third quarter of 2020.

Estonian Ride-Hailing Platform Bolt Raises $180 Million

Bolt, the European ride-hailing company that competes with the likes of Uber (UBER) and Lyft (LYFT), raised $182 million in its latest round of funding. The company will use the cash to ramp up safety measures on its platform, and will invest in facial recognition technology and artificial intelligence.

While not available in the United States, Bolt has more than 50 million users in over 40 countries across Europe and Africa. Like its American competitors, Bolt’s sales fell 75% when the coronavirus hit in March. However, food delivery service and scooter rentals have helped buoy the company through the pandemic. The new funding will help Bolt shore up its balance sheets.

ClickUp Raises $100 Million for Productivity Optimization

ClickUp, the productivity software company that has seen massive growth during the COVID-19 pandemic, raised $100 million in a Series B funding round. The investment brings the company’s valuation to $1 billion. Over the past several months, ClickUp’s user base has hit 2 million.

ClickUp will use the funding to continue scaling its team and product. While the company’s main focus is on building productivity software, it also aims to become a one-stop platform for email and other productivity solutions. This week, ClickUp launched revamped iOS and Android apps.

---

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS121803