GOAT Raises $195M More, Hits $3.7 Billion Valuation
Los Angeles-based GOAT Group, the online marketplace for sneakers and many other items, has raised $195M more in funding, and now has a valuation of $3.7 billion, the company announced this morning. According to the company, the new funding was led by Park West Asset Management, funds and accounts advised by T. Rowe Price Associates, Franklin Templeton, Adage Capital Management, and Ulysses Management. The company said the round more than doubles its prior valuation, which was $1.8 billion. GOAT is led by co-founder and CEO Eddy Lu. The company offers collectible sneakers, and recently has been expanding into adjacent markets. The company said the new funding will go to growth in its sneaker business, its apparel and accessories verticals, as well as addition of facilities in Chicago, China, Japan, and Singapore. The company said that it now has 600,000 sellers on its service, with 30 million members.
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