WatchBox, an online marketplace for buying, selling, and trading luxury watches, raises $165M from investors including Michael Jordan and Giannis Antetokounmpo
Jabari Young / CNBC :
Context & Ripple Effects
WatchBox’s round follows Chrono24’s roughly $118M Series C, giving the online luxury-watch marketplace category two recently funded, high-profile platforms. Michael Jordan’s participation also extends a pattern in the coverage of his backing consumer-facing digital marketplace businesses, including Dapper Labs’ NBA Top Shot operator.
First-order effects
- WatchBox gains $165M and the endorsement of Michael Jordan and Giannis Antetokounmpo, strengthening its position as a named online venue for buying, selling, and trading luxury watches.
Second-order effects
- Chrono24 now faces a better-funded direct peer after its own Series C, increasing the importance of differentiating each marketplace to watch buyers and sellers.
Third-order effects
- The paired financings point toward luxury-watch trading becoming a contest between capitalized online intermediaries rather than a category served only through traditional dealer relationships.
The trend: Investment is concentrating in digital marketplaces that organize resale and trading in high-value collectible goods.