An online sneaker marketplace GOAT Group, announced on Thursday it had raised $195 million in a funding with an estimated valuation to $3.7 billion. It is actually doubled the valuation as predicted.
Park West Asset Management, funds and accounts advised by T Rowe Price Associates, Franklin Templeton, Adage Capital Management and Ulysses Management fuel the funding.
GOAT was founded in 2015 and valued at $1.8 billion in their earlier funding round which happened September last year.
GOAT grossed merchandise value, which represents the total volume of goods sold, of $2 billion over the past year as sales of sneakers and apparel increased. And the company have more than 30 million customers across 170 countries.
Source: CNBC
