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.
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Terry Boyle, co-founder of startup retail site Behold, believes fashion ecommerce is broken for customers.
"It gives them too much choice they don't want, it's not truly personalized and it's too item focused," he told dot.LA.
Consumers don't wear 50 to 80% of what they own, said Boyle, the former president of Nordstromrack.com, Trunk Club and HauteLook. So, Boyle's company packages mostly designer outfits for shoppers hoping that it will make purchases more attractive.
Retail is now live streaming.
Popshop Live, which raised $3 million led by Floodgate and Abstract Ventures, wants users to shop on their phones as if they're browsing through products and interacting with clerks in a store. The live-streaming service takes a new twist on home shopping.
Launched last year by CEO and founder Danielle Li, Popshop Live will use the funds to help build out its audience as the company tries to convince shop owners to set up mini-studios inside their businesses. In all the company has raised $4.5 million.