GOAT, the world’s leading digital sneaker marketplace, announced a merger with sneaker consignment pioneer Flight Club.
The merger brings together two leading brands in the sneaker space that combined, will deliver unparalleled mobile, web and retail shopping experiences.
Following the merger, GOAT and Flight Club will continue to operate as independent brands. GOAT will continue to focus on mobile and web listings, and utilize its best-in-class technology platform across the combined companies, while Flight Club will continue its focus on global retail and e-commerce consignment.
Along with the merger, GOAT and Flight Club announced a new funding round of $60 million led by Index Ventures. Other participants include existing GOAT investors Accel, Matrix Partners, Upfront Ventures and Webb Investment Network. This most recent round 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.
Reed Smith LLP has advised Flight Club on the deal with a team led by Jared A. Hershberg (picture), alongside David M. Hryck, Konstantinos (Dean) P. Melitsanopoulos and Sophie Ha.
Law Firms: Reed Smith;
Clients: Flight Club;