GOAT (platform)

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GOAT is an online platform offering sneakers, luxury apparel and accessories
through primary and resale markets. Founded in 2015, GOAT has 30 million members
and 600,000 sellers across 170 countries on its platform.

History
GOAT was founded by Eddy Lu and Daishin Sugano in July 2015.[1] Lu serves as the
Chief Executive Officer and co-founder, while Sugano holds the role of Chief
Product Officer and co-founder. Yunah Lee was appointed Chief Financial Officer in
2017, Sen Sugano was appointed Chief Brand Officer in 2019 and Matt Cohen was
appointed Chief Revenue Officer in 2021.[2][3][4]

GOAT implements a “ship-to-verify” model that uses machine learning to verify the
authenticity of the sneakers on its platform.[5] In 2019, the platform expanded
into new markets and categories to offer luxury and streetwear apparel and
accessories in addition to secondhand products.[6]

GOAT has partnered with several luxury brands, including Versace, Chloe, and
Bergdorf Goodman.[7]

In February 2018, GOAT and Flight Club announced their merger, creating an omni-
channel approach for the business.[8] The brands operate independently, as GOAT
focuses on mobile and web listings, while Flight Club focuses on global retail and
e-commerce consignment. In February 2019, Foot Locker invested $100 million into
GOAT Group, combining their efforts across their digital and physical retail
platforms.[9] In July 2019, GOAT launched in China.[10]

In September 2020, GOAT raised $100 million from D1 Capital Partners to double its
market value to nearly $2 billion.[11] GOAT increased its market value to $3.75
billion over the following nine months, raising $195 million led by Park West Asset
Management.[12]

References
"From cream puffs to Yeezy Boosts: How the founders of the GOAT app came to supply
sneakerheads with rare and popular kicks". Business Insider. March 31, 2018.
"Inside Goat's plans to merge sneaker resale and retail". Vogue Business. July 21,
2021.
"2019 CFO Awards: Private Large Company CFO - Finalists". Los Angeles Business
Journal. September 30, 2019.
"GOAT Is Turning Bergdorf Goodman Into a Sneaker Reseller". Complex. August 29,
2019.
"GOAT uses machine learning, computer vision to verify your top dollar sneakers
are authentic". ZDNet. August 19, 2018.
"How fake Air Jordans turned these L.A. pals' sneakerhead dream into a powerhouse
platform". LA Times. July 16, 2021.
"How to Make a Major Business Pivot, According to the Cofounder of GOAT". Business
Insider. January 8, 2021.
"GOAT Gets $60 Million and Merges with Flight Club to Create a Sneaker
Superpower". GQ. February 8, 2018.
Clifford, Tyler (February 12, 2019). "Foot Locker gains digital expertise with
$100 million investment in Goat Group, start-up CEO says". CNBC.
"U.S. sneaker marketplace GOAT officially launches in China". Yahoo! Finance. July
23, 2019.
Patel, Sahil (September 23, 2020). "Sneaker Platform Goat Group Raises $100
Million to Fund Expansion Plans". The Wall Street Journal.
Scott, Charity (June 24, 2021). "Goat Group, Parent of Sneaker Marketplace, Valued
at $3.7 Billion in Latest Funding Round". The Wall Street Journal.
Categories: American companies established in 20152015 establishments in the United
StatesSneaker culture
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This page was last edited on 29 May 2022, at 02:20 (UTC).
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