SODA Valuation, Funding & Investors

SODA is valued at $336M as of December 2021.

See full SODA profile

Last SODA valuation

$336M

Series D · Dec 2021

Last SODA funding round

$25M

Series D · Dec 2021

Cumulative funding SODA raised

$106M

across 4 funding rounds

Key investors in SODA

SODA Overview

About SODA

SODA is a Tokyo-based operator of SNKRDUNK, a C2C marketplace for sneakers, streetwear, and collectibles in Japan. Launched in 2019, the platform verifies authenticity through partner Fake Busters inspections at 20 Tokyo facilities. Buyers access over 100,000 listings with nationwide pickup and delivery. SODA expanded to trading cards and luxury resale categories.


Founded

2018

HQ

JapanTokyo

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Valuation

$336M (Dec 2021)

SODA Valuation

SODA is currently valued at $336M, based on its Series D in December 2021.

The $25M round was led by SoftBank Group.

SODA valuation by funding round

SODA valuation by funding round
DateStageValuation
Dec 2021Series D$336M

SODA Funding History

SODA has raised a total of $106M across 4 funding rounds.

SODA's first fundraising round was a $3M Series A in April 2020. The most recent completed round was a $25M Series D in December 2021.

SODA funding rounds

SODA funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2021Series DSoftBank Group (lead)$25M$336MSoda operates as a sneaker marketplace platform. On December 2, 2021, SoftBank Vision Fund 2 invested in Soda at a $336 million valuation. The investment aligns with SoftBank's focus on tech-enabled growth companies, particularly in consumer marketplaces. The funding round reflects SoftBank Vision Fund's strategy of backing unicorn-potential startups in niche e-commerce verticals like sneakers, amid a broader portfolio emphasizing AI and disruptive tech. SoftBank Vision Fund has a history of large-scale investments in consumer and tech platforms, though this Soda deal appears smaller compared to mega-rounds.
Jul 2021Series CKREAM Corporation (lead); SBVA; Colopl Next; Altos Ventures; Base Partners$57M--
Jan 2021Series BSBVA (lead); The Guild; Colopl Next; Base Partners$21M--
Apr 2020Series A-$3M--

Who has invested in SODA?

7 investors have backed SODA across its funding rounds, including SBVA, Colopl Next, Base Partners, SoftBank Group, Altos Ventures and KREAM Corporation.

Lead investors include SoftBank Group, KREAM Corporation and SBVA.


SODA Investors

Investors in SODA by funding rounds participated
InvestorHQRoundsRoleFirst check
SBVASouth KoreaSeoul2LeadJan 2021
Colopl NextJapanTokyo2ParticipantJan 2021
Base PartnersJapanTokyo2ParticipantJan 2021
SoftBank GroupJapanTokyo1LeadDec 2021
The GuildIsraelRosh HaAyin1ParticipantJan 2021

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SODA Competitors

SODA competitors include listed companies like GA Technologies, ZIGExN, Lifull and DIP, and private ones like CarDekho SEA and Canada Drives.

Public and private companies comparable to SODA
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GA TechnologiesJapanJapanPublicly listed$1.6B$84M$361M0.2x
CarDekho SEASingaporeSingaporePrivate$50M-$300M6.0x
ZIGExNJapanJapanPublicly listed$188M$38M$290M1.2x
Canada DrivesCanadaVancouverPrivate--$437M-
LifullJapanJapanPublicly listed$181M$33M$196M1.0x
DIPJapanJapanPublicly listed$353M$85M$623M1.5x

SODA Public Comps

SODA is still privately-owned, but its public comps include On The Beach Group, BiNBiN, Everyday Network Co., ThredUp, Fiverr, GA Technologies, Quick Co., Socar, Aramis Group and ZIGExN.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
On The Beach Group$163M$48M2.3x2.5x7.7x8.8x
BiNBiN$11M($12M)30.9x-(27.8x)-
Everyday Network Co.$16M($6M)17.0x-(42.4x)-
ThredUp$311M($5M)1.0x0.9x(59.2x)20.5x
Fiverr$431M$13M0.2x0.2x5.2x1.0x
GA Technologies$1.6B$84M0.3x0.2x5.2x4.2x
Quick Co.$218M$41M1.0x1.0x5.4x-
Socar$343M$72M1.5x-7.0x-

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Common questions about SODA

When was SODA founded?SODA was founded in 2018.
Where is SODA headquartered?SODA is headquartered in Tokyo, Japan.
Is SODA publicly listed?No, SODA is a private, VC-backed company.
What is SODA's valuation?SODA was last valued at $336M in its Series D in December 2021.
How much funding has SODA raised?SODA has raised $106M across 4 funding rounds.
What was SODA's last funding round?SODA's last funding round was a $25M Series D in December 2021, led by SoftBank Group.
Who are SODA's investors?SODA's investors include SBVA, Colopl Next, Base Partners, SoftBank Group, The Guild, KREAM Corporation and Altos Ventures.
Which companies are comparable to SODA?Companies comparable to SODA include GA Technologies, CarDekho SEA, ZIGExN, Canada Drives, Lifull and DIP.

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