Five years after turning his sneaker price guide website Campless into the massive marketplace that is StockX, co-founder Josh Luber is leaving the company.
Minutes after he posted a "thank you" on Instagram, Luber's departure was confirmed by Business of Fashion. This comes a little over a year after he stepped down as CEO, a position which was filled by former eBay senior vice president of Americas Scott Cutler. The June 2019 announcement of Luber's transition from CEO was concurrent with StockX's $1 billion-plus valuation.
"We weren't looking for a new CEO, but this was a no-brainer," Luber said in a press release at the time.
Now, Luber is telling BOF that it wasn't a matter of if he would leave the company, but when. "It was always my intention from the day I started StockX that I would start another start-up—and then probably after that, another one and another one," he told the publication. Apparently, this plan is already in motion, with Luber describing intentions to start a new venture in "stealth mode."
In an official statement, StockX tells Complex that Luber will remain an inspiration for the company's future.
"StockX was founded more than four years ago by a group of visionaries with a commitment to disrupting e-commerce and addressing the changing needs of the consumer," the statement reads. "Today, StockX announced that Josh Luber, the company’s co-founder, is leaving to pursue interests outside of the company. Since stepping away from the role in June 2019—when eBay and StubHub alum Scott Cutler took up the mantle as CEO—Josh has been focused on innovation within the business. It is through that process, that he found a renewed interest in returning to his entrepreneurial roots. Over the past year, Luber and Cutler, who was an early investor in and advisor to StockX, have worked together to ensure a seamless transition. While Josh will be missed, his vision for what StockX could be will remain an inspiration for the more than 800 team members working to drive the business forward every day."
Luber founded StockX in 2015 alongside Cleveland Cavaliers owner Dan Gilbert, Chris Kaufman, and Greg Schwartz. Beginning with sneakers, the self-described "stock market of things" eventually expanded to offer streetwear, watches, handbags, and trading cards.
In July, StockX said that May and June were the highest-volume months of sales in company history. This news came in the midst of the COVID-19 pandemic, which also saw the secondary martketplace experience payment and shipment delays. Luber joined the Complex Sneakers Podcast in August to elaborate on the hiccups and discuss his recent role with the company.
According to BOF, Luber's last day at StockX is Friday.