Exclusive: Sneaker Rental Platform Kyx Relaunches as Resale Site, Months After Abruptly Ceasing Operations

Just ten months ago, subscription sneaker rental platform Kyx World was moving forward on its growth plans. Toward the end of October, the nascent company and alternative to the likes of StockX, Goat and eBay had just secured its third round of seed funding led by previous investors SeventySix Capital and launched a redesigned website. The undisclosed amount of financing came just months after nabbing $3 million in a second seed funding round last February, which valued the company at $16 million. But, one month later, Kyx World co-founders Brian Mupo and Steve Dorfman told employees that the company was out of money and that they would be let go. Social media activity on Twitter stopped in November and operations completely ceased by the end of December, leaving its customers wondering what happened. A look at the old Kyx World branding.Courtesy of Kyx World Mupo and Dorfman had launched the company in June 2021 with the promise to provide sneaker lovers an affordable alternative to access limited-release footwear at a lower price point typically not found on secondary marketplaces. At the time of its launch, the company offered three levels of access on its platform, charging subscribers $59 to $299 per month for access to over

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