Goat and Flight Club merge to form giant sneaker marketplace
Online sneaker marketplace Goat has merged with premium sneaker consignment retailer Flight Club. The two brands will continue to operate as separate entities powered by a $60 million investment.
Goat will continue to operate its mobile and web listings but will share its technology platform across both companies. Flight Club, in turn, will continue focusing on global retail and e-commerce consignment.
Eddy Lu, co-founder and CEO of Goat said that the merger and $60 million new investment "will allow us to significantly scale our online and retail operations to meet customer demand both domestically and internationally."
Flight Club president and co-founder Damany Weir said the merger "puts us in the best position to go after the entire market rather than compete for pieces of it."
The $60 million investment led by Index Ventures brings Goat's total funding to $97.6 million. Danny Rimer, Partner at Index Ventures said the merger will bring together 15 million monthly site visits and 7 million members, stating that it has "the potential to fundamentally change the way everyone shops for sneakers."
Goat was founded in 2015 and evolved quickly as a trusted marketplace for buying authentic sneakers. Flight Club was founded ten years ago and evolved its brand from a sneaker shopping destination to a cultural hub designed to be approachable for both sneakerheads and entry level consumers. It operates two brick-and-mortar retail stores in NY and LA.
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