GOAT's $100M Raise Fuels its Trendsetter Ambitions in a Casual Era of Ecommerce

Rachel Uranga

Rachel Uranga is dot.LA's Managing Editor, News. She is a former Mexico-based market correspondent at Reuters and has worked for several Southern California news outlets, including the Los Angeles Business Journal and the Los Angeles Daily News. She has covered everything from IPOs to immigration. Uranga is a graduate of the Columbia School of Journalism and California State University Northridge. A Los Angeles native, she lives with her husband, son and their felines.

GOAT's $100M Raise Fuels its Trendsetter Ambitions in a Casual Era of Ecommerce

GOAT began as an online sneaker reseller, but the startup's on a meteoric rise having just landed another $100 million investment round. That gives it a $1.75 billion valuation, sources familiar with the transaction said.

Launched five years ago by college friends to "authenticate" used AirJordans and other collectible shoes sought by sneakerheads, GOAT is positioning itself to be a global luxury shoe and apparel retailer as the brick-and-mortar model falls into decline.


Earlier this year, GOAT launched its new brand campaign during the NBA Playoffs, attempting to establish itself as a tastemaker for its 30 million members. The company, which takes its name from the sports acronym for "Greatest of All Time," has expanded its online store to include new clothes and accessories from luxury brands such as Alexander McQueen and Versace.

Its mix of iconic brands to streetwear, along with its online orientation, could boost it during the pandemic as fashion trends embrace a sweatpants aesthetic and a shopping-at-home culture.

Co-founder and CEO Eddy Lu has said he wants GOAT to be a curator and not just a transactional retailer.

Eddy Lu

"Our mission is to bring the world's greatest products together from the past, present and future, while providing a premier end-to-end customer experience with a point of view on culture and style," he said in a statement.

The funds will be used to expand their market reach.

Their series E round was bankrolled by Dan Sundeheim's D1 Capital partners, a firm he started in 2018 after leaving as Viking Global Investors' chief investment officer. His $4 billion fund has been pouring money into public and private companies, most recently injecting $200 million into the controversial online trading company RobinHood Financial.

With the most recent round of funding, the company has raised $300 million from venture capital and strategic partners including FootLocker.

It boasts customers in 170 countries and 13 physical locations.

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Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage
Courtesy of Greater Good Health

The pandemic highlighted what’s been a growing trend for years: Medical students are prioritizing high-paying specialty fields over primary care, leading to a shortage of primary care doctors who take care of a patient’s day-to-day health concerns. These physicians are a cornerstone of preventative health care, which when addressed can lower health care costs for patients, insurers and the government. But there’s a massive shortage of doctors all over the country, and the pipeline for primary care physicians is even weaker.

One local startup is offering a possible answer to this supply squeeze: nurse practitioners.

On Wednesday, Manhattan Beach-based Greater Good Health unveiled a $10 million Series A funding round led by LRVHealth, which adds to the startup’s $3 million seed round last year. The company employs nurse practitioners and pairs them with doctor’s offices and medical clinics; this allows nurse practitioners to take on patients who would otherwise have to wait weeks, or even months, to see a doctor.

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Plus Capital Partner Amanda Groves on Celebrity Equity Investments

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

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Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays

David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays
Courtesy of Rivian.

Rivian’s stock lost 7% yesterday on the back of news that the company could face delays in fulfilling Amazon’s order for a fleet of electric delivery vans due to legal issues with a supplier. The electric vehicle maker is suing Commercial Vehicle Group (CVG) over a pricing dispute related to the seats that the supplier promised, according to the Wall Street Journal.

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