- Briefing Your roundup of Asian tech and startup news that matter
Aya Lin · · 1 min readIn brief: Chinese sneaker-trading platform becomes unicorn with latest funding round
- Sneaker-trading platform Poison recently raised a new round of funding from Digital Sky Technologies (DST), valuing the company at billions of dollars, reported 36Kr, citing people close to the transaction.
- In 2018, Poison raised “tens of millions of dollars” in funding from Gaochun Capital, Sequoia Capital China, and Pusi Capital.
- Poison’s annual gross merchandising volume has surpassed 10 billion yuan (nearly US$1.5 billion). The startup had more than 1.4 million monthly active users in March 2019, according to data from Analysys Qianfan.
- The global market for sneaker resale is worth US$6 billion, according to industry observers.
Editing by Eileen C. Ang
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