Detroit-based StockX Closes $110M Series C Led by DST Global, General Atlantic and GGV Capital; Names e-commerce Veteran Scott Cutler CEO
StockX, the world’s first ‘stock market of things’, has closed on a $110 million Series C funding round from investment firms DST Global, General Atlantic, and GGV Capital. The company also announced today the appointment of Scott Cutler as CEO. Cutler succeeds co-founder Josh Luber, who will continue to serve on the executive leadership team and board of directors. The raise, in which current investors GV and Battery Ventures also participated, represents the largest in Michigan VC history to date and values StockX at over $1 billion.
Depop, the fashion marketplace for Generation Z, has raised $62 million in a Series C round led by General Atlantic Depop intends to use the funds to accelerate its US expansion, where the Gen Z fashion app already has 5 million users, stores in New York and Los Angeles and expects to grow its community over in the coming years With a mission to empower the next generation to transform the fashion industry, Depop taps into generational shifts towards circular fashion, social shopping and independent brands Sellers on the platform have made more than half a billion dollars (more than $570 million) and 19 million transactions since its launch in 2011 Depop, a fashion marketplace for the next generation, has secured a $62 million Series C round led by General Atlantic. Depop intends to use the funds to accelerate its expansion in the U.S. and internationally, grow its London-based engineering and data science teams and invest in new tools and functionality for the platform’s more than 13 million users globally.
Today, Health and Human Services Deputy Secretary Eric Hargan announced the initial core participants of the Deputy Secretary’s Innovation and Investment Summit (DSIIS) and December 18, 2018 as the date of the first meeting. As announced on September 19, 2018, the DSIIS will be a yearlong collaboration between healthcare innovation and investment professionals and HHS personnel who will meet quarterly to discuss the innovation and investment landscape within the healthcare sector, emerging opportunities, and the government’s role in facilitating more investment and accelerated innovation.
European Wax Center (EWC), a leading beauty lifestyle brand franchise, announced today that General Atlantic, a leading global growth equity firm, has signed an agreement to make a strategic investment in the brand, enabling EWC to fuel its next phase of growth and expansion.
Today, Inc., (“Today”) a leading Chinese convenience store brand, announced today that it has completed its RMB300 million Series B+ financing led by General Atlantic, a leading global growth equity firm, valuing the company at more than RMB3 billion. With the latest financing round, the company has successfully raised more than RMB500 million over the past six months to fuel continued market expansion and growth.
General Atlantic, a leading global growth equity firm, announced today that Cathy Beaudoin, former President of Amazon Fashion, has joined General Atlantic as a Special Advisor. Ms. Beaudoin will work closely with General Atlantic’s Global Retail & Consumer team and other sector investment teams to identify investment opportunities and support the firm’s existing portfolio of companies.
Andrew Ferrer, Principal in General Atlantic’s New York office, was named to WWD’s 40 Under 40 List. The list was selected by WWD’s editorial team to honor men and women under the age of 40 with innovative approaches to business in design, investment, or marketing. Andrew joined General Atlantic in 2014 to focus on investments in the Retail & Consumer sector.
Grupo Axo, a leading multi-brand retailer in Mexico, announced today that General Atlantic, a leading global growth equity firm, has agreed to make a strategic investment in the Company. As part of this transaction, Alsea, a leading Mexican multi-brand restaurant operator, will be fully exiting its position in the Company. The transaction is subject to customary closing conditions and authorization by the Mexican Antitrust Commission.
Melis Kahya, Vice President in General Atlantic’s London office, was named in Financial News’ list of the 25 rising stars in private equity. The list honors professionals who are under the age of 40, based in the UK, and have demonstrated excellence in their field. Melis moved to London in 2016 to lead General Atlantic’s Retail & Consumer business in EMEA and recently led on the firm’s first retail investment in the region, a growth investment in Copenhagen-based Joe & the Juice.
Torchy’s Tacos, a fast-casual restaurant serving untraditional tacos, announced today a significant minority investment from General Atlantic, a leading global growth equity firm. General Atlantic joins the five founding partners of the restaurant chain as shareholders.
Jörn Nikolay, Managing Director and head of General Atlantic’s Munich office, was named to Capital Magazine’s “Young Elite Top 40 Under 40,” a list honoring this year’s most talented managers under 40.