Company Overview
Rares is a fintech company and social investing platform specializing in investments in ultra-rare, vintage, and collectible sneakers. The platform facilitates investment in cultural assets through the purchase and trading of shares in these rarities. However, recent shifts in the company's strategy have resulted in a cessation of new investments, with all prior investments refunded to investors' Rares wallets. Further information about Rares is available on their [official website](https://rares.io/).
Leadership Team
- ### Gerome Sapp
- Role: Founder & CEO
- Background: Gerome Sapp's innovative leadership in financial inclusion has positioned Rares uniquely within the sneaker investment market. He holds credentials from Harvard Business School, contributing to his vision of merging cultural significance with traditional investing. [LinkedIn Profile](https://www.linkedin.com/in/gerome-sapp-19679b17)
- ### Hector Tantoh
- Role: Co-Founder and Head of Marketing
- Background: With expertise in multifaceted marketing approaches, Hector Tantoh has propelled Rares into the forefront of alternative asset investment, previously serving as Chief of Staff & Program Manager. He is an alumnus of Penn State University. [Crunchbase Profile](https://www.crunchbase.com/person/hector-tantoh)
- ### Matthew Hall
- Role: Chief Operating Officer (COO)
- Background: Matthew Hall's experience across product development, management, and market analysis drives the operational and strategic growth at Rares. His leadership is pivotal in maintaining seamless operations. [Crunchbase Profile](https://www.crunchbase.com/person/matt-hall-5de9)
- ### Nichole Huerta
- Role: Product Designer
- Background: Nichole Huerta oversees product design, ensuring the platform's user interface and experience align with the expectations of investors in cultural assets. [Profile](https://theorg.com/org/rares-io/teams/leadership-team)
Financial Overview
Rares has successfully raised $11.2 million in funding, backed by notable venture firms such as Alumni Ventures, Gaingels, Captain Partners, Urban Capital Network, Cake Ventures, and Evolution. Details about its financial backing are documented on [PitchBook](https://pitchbook.com/profiles/company/464132-89).
Recent Developments
The company's distinction as a top tech startup in Las Vegas marks its recognition in cultural spheres. The halt in new investments suggests a critical evaluation and potential pivot in its business model may be underway. More details can be observed in Gerome Sapp's [LinkedIn Activity](https://www.linkedin.com/posts/gerome-sapp-19679b17_rares-was-named-as-one-of-the-top-tech-startups-activity-7000863129052033024-SWHA).
Contact Information
For further information or inquiries, Rares can be contacted via their [official website](https://rares.io/) or through their support email at help@rares.io.
Competitor Analysis
1. BUMP Network, Inc.
BUMP Network offers cloud-based transaction, membership, and communication technologies. Originating from Kahului, Hawaii, it integrates technology and social networking based on license plate messaging. With a modest revenue of $200,000 and a small team, BUMP operates at a more niche scale.
2. Depop
Known for its focus on circular fashion, Depop has established itself as a major marketplace in the secondhand fashion industry. Acquired by Etsy in 2021, Depop’s community comprises 35 million users globally. With a $42.2 million revenue and 2939 employees, it underscores sustainability and style.
3. GOAT Group
GOAT Group serves the sneaker, apparel, and accessories market with advanced technology for authentication. Its extensive community spans 60 million members in 170 countries, complemented by its connection with Paris-Saint Germain for broader luxury market visibility.
4. RTFKT
Recently integrated into Nike, RTFKT is revolutionizing custom sneakers through digital art, leveraging virtual and augmented reality technologies. Despite a compact team of 24, RTFKT's niche market presence is accentuated by its partnership with Nike.
Market Position
Rares operates in a competitive landscape characterized by a mix of fashion resale, tech solutions, and luxury goods. The necessity for continual innovation and potential technological advances remains critical to maintaining and enhancing Rares' competitive positioning among diverse industry players.
