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- SODA
SODA Valuation, Funding & Investors
SODA is valued at $336M as of December 2021.
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
SBVA
Colopl Next
Base Partners
SoftBank Group
Altos Ventures
KREAM Corporation
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Dec 2021 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2021 | Series D | SoftBank Group (lead) | $25M | $336M | Soda 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 2021 | Series C | KREAM Corporation (lead); SBVA; Colopl Next; Altos Ventures; Base Partners | $57M | - | - |
| Jan 2021 | Series B | SBVA (lead); The Guild; Colopl Next; Base Partners | $21M | - | - |
| Apr 2020 | Series 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2021 | ||
| 2 | Participant | Jan 2021 | ||
| 2 | Participant | Jan 2021 | ||
| 1 | Lead | Dec 2021 | ||
| 1 | Participant | Jan 2021 | ||
This data is available for Pro users. Sign up to see all 7 SODA investors. Start Free Trial | ||||
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Start Free TrialSODA Competitors
SODA competitors include listed companies like GA Technologies, ZIGExN, Lifull and DIP, and private ones like CarDekho SEA and Canada Drives.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.6B | $84M | $361M | 0.2x | ||
| Private | $50M | - | $300M | 6.0x | ||
| Publicly listed | $188M | $38M | $290M | 1.2x | ||
| Private | - | - | $437M | - | ||
| Publicly listed | $181M | $33M | $196M | 1.0x | ||
| Publicly listed | $353M | $85M | $623M | 1.5x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $163M | $48M | 2.3x | 2.5x | 7.7x | 8.8x | |||
| $11M | ($12M) | 30.9x | - | (27.8x) | - | |||
| $16M | ($6M) | 17.0x | - | (42.4x) | - | |||
| $311M | ($5M) | 1.0x | 0.9x | (59.2x) | 20.5x | |||
| $431M | $13M | 0.2x | 0.2x | 5.2x | 1.0x | |||
| $1.6B | $84M | 0.3x | 0.2x | 5.2x | 4.2x | |||
| $218M | $41M | 1.0x | 1.0x | 5.4x | - | |||
| $343M | $72M | 1.5x | - | 7.0x | - | |||
This data is available for Pro users. Sign up to see all SODA competitors and their valuation data. Start Free Trial | ||||||||
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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