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☆ I started selling shoes on Goat to fund my sneaker addiction. Here's why I prefer it to Poshmark despite the high fees.
▼ + stars: | 2023-02-28 | by ( Danni Santana | ) www.businessinsider.com time to read: +8 min

I started reselling used sneakers in the summer of 2022 to more easily afford my sneaker addiction. In other words, I started monetizing my used sneaker collection for extra cash to buy new shoes. But I'm keeping my options open, especially if StockX begins to allow the sale of used shoes. I'll certainly take advantage of their periodic promotions on seller fees that I've seen be up to 50% off in the past. The platform offers an easy way to sell shoes quickly that you barely wear or have buyer's remorse over.

☆ Yeezy sneakers in hot demand on resale platforms even after Kanye West's anti-semitic remarks
▼ + stars: | 2023-02-27 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Yeezy sneakers currently are among the top three sellers on Impossible Kicks, a large online reseller of high-end sneakers and clothing that has 17 store locations in the United States. He said Yeezy sneakers are among the top three most-popular brands on the platform after Jordans and other Nike footwear, including Dunk and Air Max shoes. Impossible Kicks, seller of high-end sneakers, said demand for Yeezy sneakers is up 30% since last fall. So now prices for Yeezy sneakers are climbing due to tighter supply, according to StockX, a leading sneaker resale platform. “Since the start of the year, the average price of Yeezy sneakers has increased but sales overall have decreased on StockX,” Drew Haines, director of sneakers and collectibles at StockX, told CNNBusiness.

☆ Yeezys are still in high demand on the secondary market despite Ye's fallout with Adidas
▼ + stars: | 2023-02-27 | by ( Danni Santana | ) www.businessinsider.com time to read: +2 min

Demand for Yeezy sneakers remains high on the secondary market. Impossible Kicks has seen a 30% increase in demand since October, according to CNN Business. But demand for his Yeezy sneakers remains high. Unconfirmed rumors are also swirling around social media that Adidas and Ye may again be joining forces to sell the leftover stock. An Adidas spokesperson declined to comment, adding the company's update on February 9 is the latest it has to share.

☆ Adidas could lose over $750 million as it tries to figure out what do do with its stockpile of Yeezys
▼ + stars: | 2023-02-09 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

Adidas may lose over $700 million in operating profits in 2023 if it doesn't sell off excess Yeezys. Adidas has said it plans to sell Yeezys without Ye after the business relationship ended in October. According to a company statement Thursday, Adidas stands to lose over $750 million in operating profits in 2023 if it does not sell off excess Yeezy inventory. But fans of Adidas Yeezys are split on whether they would buy the shoes without a Ye connection. Adidas immediately brought its Yeezy business to a halt and asked wholesale partners to do the same.

☆ Why these absurd red boots are suddenly all over TikTok and Twitter — and listing for as much as $1,000 on StockX
▼ + stars: | 2023-02-08 | by ( Danni Santana | ) www.businessinsider.com time to read: +4 min

MSCHF's oversized big red boots, releasing on February 16, have taken social media by storm. The latest viral release from the company is their "Big Red Boot," which goes on sale February 16 for $350. In a release describing the boots, MSCHF said the boots were made of TPUrubber shell, EVA foam, along with 'Red' and 'Big.' MSCHF calls these shoes "Cartoon boots for a Cool 3D World." Big Red Boots are REALLY not shaped like feet, but they are EXTREMELY shaped like boots."

☆ Nike is teaming up with Tiffany & Co. on a $400 shoe. Sneakerheads aren't impressed.
▼ + stars: | 2023-01-30 | by ( Danni Santana | ) www.businessinsider.com time to read: +2 min

Nike and Tiffany & Co have confirmed a new collaboration sneaker. A Nike and Tiffany & Co collaboration sneaker is on the way. In separate Instagram posts, the retailers revealed the shoe box for the upcoming sneaker. The shoe marks Tiffany & Co's first collaboration with Nike. So far, sneaker collectors on Twitter are not as impressed with the upcoming Nike and Tiffany & Co. collaboration.

☆ It's a terrible time to be a sneaker reseller
▼ + stars: | 2023-01-24 | by ( Lois Sakany | ) www.businessinsider.com time to read: +8 min

Adidas' messy breakup with Ye is the latest in a series of complications for sneaker resellers. Sneaker resellers have felt the effects of the end of the stimulus check and the rise of inflation. Sneaker resellers saw a bot crackdownWhile not as lucrative as Nike in the aftermarket, it was easier to buy Yeezys in bulk on Yeezy Supply using bots. The loss of Yeezy sales then combined with Nike's crackdown on bots. I'm working to expand my team to accommodate the online customer, walk-in customer, and sneaker customer," Falcon said.

☆ It's the perfect time to start your sneaker collection
▼ + stars: | 2023-01-24 | by ( Danni Santana | ) www.businessinsider.com time to read: +7 min

Inflation and high inventory have created the perfect environment for new sneaker collectors. Sneakers are easier to getMost shoes have become relatively easy to get, said a sneaker collector who goes by Sockjig and is the host of the "Sockjig Sneaker Podcast." Sneakerheads new to the Snkrs app might have a better chance of getting one of those "unicorn" shoes, Sockjig said. Saucony is a popular brand among sneaker collectors following casual-fashion trends. And they've placed the emphasis on the Snkrs app," Burns said.

☆ Sneaker resale platform StockX says it turned away $100 million in fake items in 2022
▼ + stars: | 2023-01-19 | by ( Danni Santana | ) www.businessinsider.com time to read: +4 min

StockX says it rejected $100 million worth of counterfeit products from resellers in 2022. The resale marketplace said in its annual report that it recorded record revenues in 2022. Overall, the resale platform turned away over 330,000 fake items shipped by sellers for verification last year, according to its latest annual marketplace report. StockX currently inspects over 1 million items a month at its 13 authentication centers worldwide. Nike, Jordan Brand, Adidas, New Balance, and Converse once again were the top selling sneaker brands on the platform.

☆ A $1.3 million collection of rare sneakers goes on sale this month. Take a look at the most iconic pairs.
▼ + stars: | 2023-01-03 | by ( Danni Santana | Matthew Kish | ) www.businessinsider.com time to read: +1 min

The merchandise is auctioned at a gala event, then sold in limited quantities. In 2021, Nike made 17 pairs of Jordan 1 "What the Doernbecher" sneakers. The sneakers are so rare that there's no sales history for them on StockX. The pair is priced at $140,000, which would set a record for Impossible Kicks on a single purchase. The chain's highest transaction to date was $112,000 for a pair of Travis Scott Air Jordan 4 "Friends and Family Olive" and a pair of Jordan 11 "OVO Gold."

☆ $3 billion customer-management startup Podium laid off 12% of staff
▼ + stars: | 2022-12-02 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +3 min

The $3 billion customer-management startup Podium laid off 12% of its staff Thursday. The $3 billion customer-management startup Podium laid off 12% of its staff Thursday. Podium, based in Lehi, Utah, has raised $201 million from venture-capital firms including Accel, IVP, and Summit Partners, according to PitchBook. The company, which helps businesses communicate with their customers, had about 1,300 employees, according to PitchBook. Affected employees learned they were laid off through email or when they were no longer able to access their work tools.

☆ Here's the pitch deck that dating app IRLY, cofounded by internet star Cameron Dallas, used to raise its pre-seed round
▼ + stars: | 2022-11-29 | by ( Marta Biino | ) www.businessinsider.com time to read: +3 min

The video-dating app IRLY just brought on the Vine superstar Cameron Dallas as a cofounder. The company also announced a pre-seed funding round of 475,000 Canadian dollars. IRLY shared the pitch deck it used to raise the round. Shortly after, Dallas got in touch with the founders of IRLY — the Canada-based university students Connor Rose and Laura Rollock — on LinkedIn. IRLY had raised its pre-seed round before getting in touch with Dallas, at the start of 2022.

☆ Nike has a year's worth of 'Off-White' products ready to sell as Virgil Abloh estate plans what comes next
▼ + stars: | 2022-11-29 | by ( Matthew Kish | ) www.businessinsider.com time to read: +2 min

Shannon Abloh, Virgil Abloh's widow, spoke with the New York Times about plans for his estate. The entity is part of Virgil Abloh Securities, the vehicle to continue his creative work. Starting Thursday, Nike and Virgil Abloh Securities will host a four-day exhibit in Miami called "Virgil Abloh: The Codes c/o Architecture" at the Rubell Museum. As part of the exhibit, Nike will unveil the Off-White Nike Terra Forma, the first sneaker Abloh designed from scratch for the brand. Virgil Abloh at work on "The Ten" Courtesy NikeIn 2017, Nike released "The Ten," a collection of 10 iconic Nike models that Abloh rethought and reconstructed.

☆ Another tech bubble bursts: 2022 has been brutal for Silicon Valley workers
▼ + stars: | 2022-11-27 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +28 min

Gem: 100A maker of recruiting software, the startup cut a third of its workforce Nov. 1, The Information reported. HealthCare.com: 149The health insurance marketplace announced the job cuts Aug. 3, Miami Inno reported, citing state regulatory filings. Fabric: 120The robotics startup said July 13 that it was layoffing off 40% of them, TechCrunch reported, citing company confirmation. It affected about 300 people, the Silicon Valley Business Journal reported, citing company confirmation. Policygenius: 170The online insurance company cut about 25% of its staff, Axios reported June 6, citing company confirmation.

☆ Nike's ambitious environmental goals are being thwarted by sneakerheads and the Jordans, Air Force 1s, and Dunks they love
▼ + stars: | 2022-11-21 | by ( Matthew Kish | Catherine Boudreau | ) www.businessinsider.com time to read: +10 min

Nike's leather usage increased 35% last year because of the demand for iconic shoes such as Dunks. The popularity of the shoes pushed up Nike's leather use by 35% last year and put the company behind a goal to use more sustainable materials. "What's more important, financial goals or carbon footprint goals? But last year, it accounted for 0.1% of Nike's leather usage. Nike's also introducing new sustainable silhouettes, including a sneaker that can be easily taken apart for ease of recycling.

☆ How Nike's Air Jordan 1 became — and remained — the most prized lifestyle sneaker
▼ + stars: | 2022-11-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

Nike on Saturday will release the Air Jordan 1 Chicago "Lost and Found"Some collectors consider it the "most iconic sneaker of all time." "The Air Jordan 1 is the most iconic sneaker of all time," said Jordan Geller, a sneaker collector and former owner of the ShoeZeum who in 2020 sold a pair worn by Jordan for a record $560,000. Michael Jordan wearing the Air Jordan 1 in 1985. AP Photo/Marcio Jose SanchezScarcity, storytelling, collaborations and the "Last Dance"After 1985, The Air Jordan 1 didn't re-release in original specs until 1994. "All of those releases are coveted by sneaker collectors and the 'Lost and Found' Air Jordan 1 will be as well," Geller said.

☆ How an early investor in StockX and The Athletic built a sports VC firm and got the Cavs owner to back him
▼ + stars: | 2022-11-17 | by ( Colin Salao | ) www.businessinsider.com time to read: +6 min

Vasu Kulkarni is the founder and CEO of Courtside VC, a venture firm focused on sports. His company was one of the early investors of StockX and The Athletic, but "missed" on Overtime. Kulkarni built Courtside VC to help sports startup founders like himAs Krossover grew into a multimillion-dollar company, Kulkarni began to realize the opportunity to invest in other sports-related startups. But Courtside VC has hit on enough startups to raise another $55 million in 2019. Courtside VC has invested in focusing on youth sports, fitness and wellness, esports, sneaker culture, and real-money gaming.

☆ 3 VCs share their best advice for startup founders as the tech industry heads for a historic slump and thousands of workers lose their jobs
▼ + stars: | 2022-11-08 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +1 min

And startup founders, too, are feeling the heat. Three VCs at 7wire, Interplay, and Menlo tell Insider their best advice for founders right now. Startup founders, too, are feeling the heat: fintech Stripe slashed 14% of its workforce while neobank Chime laid off 160 people. Buzzy NFT startup Dapper Labs let go of 22% of its employees, while resale marketplace StockX cut less than 80 jobs. Here's their advice for founders right now:

☆ Thousands of workers were laid off this week as tech companies and startups brace for an economic crash. Investors, founders, and recruiters explain why this is just the beginning.
▼ + stars: | 2022-11-05 | by ( Rob Price | Samantha Stokes | ) www.businessinsider.com time to read: +10 min

Amid growing economic uncertainty, layoffs in the technology industry, both for public companies and for startups, have been escalating this Fall. While plenty of tech companies were still flying high in early 2022, Russia's invasion of Ukraine in February accelerated global economic turmoil. More than 17,000 tech workers lost their jobs in both May and June, while July and August saw another 29,000 cuts, according to layoff tracker Layoffs.fyi. Davis, the VC at Interplay, explained that cost-cutting and layoffs are happening across the board, not just in the tech industry. But public tech companies as well as early- and growth-stage startups will face additional challenges, he said.

☆ Pharrell's 'yard sale' auction — including a $500k chain and a $22k gold-encased Blackberry - gets soaring six-figure bids
▼ + stars: | 2022-10-27 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Pharrell Williams announced the launch of his online auction house, Joopiter, in September. On Oct. 13, the music mogul invited famous friends to view his private collection before the online auction. The music mogul announced the launch of his online auction site, Joopiter, in September, putting several personal items on the block. JoopiterAs the hours of the online auction ticked down, the blinged-out sunglasses, a gold-encased Blackberry phone, and a diamond-encrusted dice set continued to attract high bids. In the FT report, Williams shared his plan to one day open the auction site to more collectors selling their luxury items.

☆ People are splurging to buy Grimace, Birdie, and Hamburglar toys from McDonald's adult Happy Meal, with some spending $50 for the figurines
▼ + stars: | 2022-10-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

People are spending big money to snap up limited-edition toys from McDonald's adult Happy Meals. One eBay account is selling some sealed toys for $49.95 each, or $119.95 for a pack of all four. One eBay account is charging $24.95 each for sealed Grimace and Cactus Buddy toys and $49.95 for Hamburglar and Birdie toys, or $119.95 for a pack of all four. Another account selling the toys individually and in four-packs for slightly cheaper has sold 116 lots. The McDonald's and Cactus Plant collaboration has proved incredibly popular.

☆ 15 venture capitalists that early-stage sports tech, health, and wellness founders should know if they're looking to raise capital
▼ + stars: | 2022-10-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: +17 min

Other recent investments include Bumble, Goop, Spring Health, Chief, Found, Daily Harvest, and Blueland. Recent investments include the sneaker-trading platform Tradeblock, which touts itself as an alternative to StockX and Goat. Recent investments include AnyDistance, Balanced, and Juna. Her recent investments include Calibrate, DUOS, Dutch, and Buffalo Market, a food distributor focused on plant-based and organic foods. Recent investments include pickleball products company Revolin, live-sports artificial-reality company Quintar, recovery products company Alleviate, and community cycling app Preem.

☆ A new startup is trying to change the way companies price their IPOs when they go public — in the midst of the IPO drought
▼ + stars: | 2022-10-12 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +5 min

ClearingBid plans to use an electronic order book, similar to a stock exchange, to price IPOs. A company called ClearingBid this week is set to unveil a new online portal that it says will change the way companies go public and make initial public offerings more transparent and accessible. The company says it will use what's known as an electronic order book to set IPO prices, similar to the way prices are set on a stock exchange. On the first day of trading, the stock shot up to $70 a share, a 63% increase from the IPO price. "If Morgan Stanley or Goldman Sachs aren't participating," he said, "those accounts can walk across the street to Schwab, and what's going to happen is that they're going to lose assets under management, they're going to lose commissions, they're going to lose client retention, and they're going to come our way."

☆ Nike moves to curb automated bots and resale market with penalties
▼ + stars: | 2022-10-12 | by ( Stefan Sykes | ) www.cnbc.com time to read: +1 min

Nike shoes are displayed on a shelf a Nike factory store on June 28, 2022 in Milpitas, California. Nike is taking steps to curb the proliferation of sneaker-buying bots and resellers. Previous versions of Nike's terms already prohibited buying products for resale. Nike also added that it can decline refunds, charge restocking fees and suspend the accounts of users it suspects of reselling. Earlier this year, Nike took legal action against online resale marketplace StockX for allegedly allowing sales of counterfeit versions of its sneakers.

☆ The $160 Birkenstock clogs that went viral on TikTok are selling out almost everywhere — and some resellers are charging more than double for them
▼ + stars: | 2022-10-11 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Birkenstock's Boston clog, which has been around since the 1970s, is sold out almost everywhere. The New York Times reported that some resellers are charging as much as $350 for the $160 shoe. The shoe has been spotted on celebrities like Kendall Jenner and became a viral hit on TikTok. Enter TikTok, which causes trends to formulate and spread at warp speed, and Birkenstock's clog stockpile didn't stand a chance. This isn't the first time that the TikTok trend machine has boosted sales of a vintage product.

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