The merger brings together two leading brands in the sneaker space. Combined, they have over 7 million members and 400,000 sneaker listings — largest sneaker offering of any marketplace.
Following the merger, GOAT and Flight Club will continue to operate as independent brands. However, GOAT will focus on mobile and web listings, utilizing its technology platform across the combined companies, while Flight Club will continue its focus on global retail and e-commerce consignment.
Oh, and they have raised $60 million in funding by Index Ventures. This brings GOAT’s total funding to $97.6 million. Index Ventures’ Danny Rimer and Flight Club’s Damany Weir will join GOAT’s Board of Directors.
“As the first company to focus on reselling rare sneakers, Flight Club revolutionized sneaker retail and paved the way for what is now a two billion dollar resale industry,” said Eddy Lu, co-founder and CEO of GOAT. “The merger of Flight Club and GOAT, together with $60 million in new funding, will allow us to significantly scale our online and retail operations to meet customer demand both domestically and internationally.”
“Aligning with GOAT’s world-class technology and mobile listings platform is the logical evolution of our business. The complementary strengths of the two companies puts us in the best position to go after the entire market rather than compete for pieces of it,” said Damany Weir, co-founder and president of Flight Club.