Sneaker and apparel e-commerce giant Stadium Goods is raising money for its business with the help of a shark. Billionaire Mark Cuban, star of ABC’s Shark Tank, is among those who helped raised $4.6 million in new equity funding for Stadium Goods.
The company announced Thursday, the Forerunner Ventures led financing, which has also backed Warby Parker and Jet.com. Mark Cuban, The Chernin Group, and others aided in the fundraising. The additional money will help boost the New York-based company’s expansion in the footwear market.
“In just over a year in business, we’ve experienced tremendous growth and, more importantly, helped to legitimize the resale model by making it more relevant and accessible to all types of consumers,” Jed Stiller, co-founder and managing partner of Stadium Goods. “We’re thrilled to have found the perfect partners in Forerunner Ventures and The Chernin Group, among others, to build on our successes to date as we look to innovate and scale rapidly.”
The company specializes in premium sneaker offerings to enthusiasts worldwide, including online consignment support. In addition to its website StadiumGoods.com, the company owns retail stores including a location in New York City’s Soho shopping district.
In 2016 Stadium Goods expanded its brand into China by teaming up with Tmall Global, an extension of Alibaba Group’s B2C Tmall.com business.