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# Michigan To Get Our Next "Unicorn" Tech Company, Valued At $1 Billion
- URL: https://www.dailydetroit.com/michigan-to-get-our-next-unicorn-tech-company-valued-at-1-billion/
- Published: 2019-04-19T12:34:00.000Z
- Updated: 2024-02-25T22:31:26.000Z
- Author: Jer Staes
- Tags: #wordpress, #Import 2024-02-25 18:12, #admin

Detroit-based StockX, [according a report in Recode](https://www.recode.net/2019/4/19/18486120/stockx-billion-valuation-funding-dst-ggv-sneakerhead?ref=dailydetroit.com), is about to be valued at $1 billion. That gives it “Unicorn” status as a startup.

> DST Global, the late-stage venture firm run by Russian-American billionaire Yuri Milner, is expected to lead the deal, according to people familiar with the matter. It will be the latest bet by the firm on an e-commerce startup after backing companies like DoorDash, Wish, and Faire.
> 
> [Recode](https://www.recode.net/2019/4/19/18486120/stockx-billion-valuation-funding-dst-ggv-sneakerhead?ref=dailydetroit.com)

StockX is a stock market of things. It links up buyers and sellers of sneakers and other in-demand consumer goods like watches, streetwear and handbags. They then take a fee off the top. There’s also an in-house authentication process to fight frauds. [They do more than $2 million in gross sales a day. ](https://www.detroitnews.com/story/news/local/detroit-city/2018/05/24/detroit-news-stock-day-detroit-josh-luber-dan-gilbert-sneakerheads/35333399/?ref=dailydetroit.com)

The company isn’t profitable yet but it has high-profile investors like Eminem, Mark Wahlberg and of course, co-founder Dan Gilbert. The offices of StockX are right across from Dan’s. 

It was founded in 2016.

The CEO and other co-founder of StockX, Josh Luber, was recently featured on Gilbert’s podcast, “The Speed of the Game.” 

[The first Michigan “Unicorn” tech company was Duo Security](http://www.dailydetroit.com/2017/10/18/michigan-grows-first-unicorn-tech-company-valued-1-billion/). Soon after achieving that status, [they were bought by Cisco.](https://duo.com/about/press/releases/cisco-completes-acquisition-of-duo-security?ref=dailydetroit.com)