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StockX — a fast-growing web destination of hard-to-find sneakers — said Wednesday it had raised $275 million in a new funding round that values the company at $2.8 billion.

The latter figure, which includes the value of the fresh pile of cash, follows an exclusive report by The Post on Dec. 7, which said the company was looking to raise about $250 million at a valuation of $2.5 billion.

The fast growing auction house has more than doubled its valuation from its January 2019 last major fund-raising round that valued it at a little over $1 billion.

The Detroit-based company is currently planning to file for an initial public offering in mid-2021, according to sources close to the situation. Proceeds are expected to fuel growth in Asia for the site, which assigns ticker symbols to sneakers in a scrolling feed that displays bids, offers and green and red arrows to show how prices are moving.

Cleveland Cavaliers Owner Dan Gilbert is a cofounder and rapper Eminem is an early investor.

StockX, which authenticates all the sneakers it resells, charges a 9 to 14 percent commission on transactions.

While many of the sneakers on the site are being offered for resale after being snatched up in limited edition sales, most have never been worn. The pandemic has helped the business as it is harder now to shop at stores for sneakers, executives have said.

The average sale on the site is about $230, according to an investor presentation reviewed by The Post.

Despite its growth, it still projects losing $56 million this year, according to its presentation.

StockX rival Goat Group in September raised $100 million as its sales likewise soared during the pandemic, giving it a $1.75 billion valuation.

The valuations of StockX and Goat Group combined, $4.55 billion now exceeds Foot Locker’s $4.3 billion market cap.

* Honeycomb Investment Raised to Buy at Liberum; PT 1,060 pence

* Indus Holding Raised to Buy at FMR Frankfurt Main

* Schroders Raised to Neutral at Credit Suisse; PT 3,100 pence

* Tyman Raised to Buy at Peel Hunt; PT 375 pence

>>> Down

* Carl Zeiss Meditec Cut to Hold at Nord/LB; PT 110 euros

* K+S Cut to Add at Baader Helvea; PT 9 euros

* Mediobanca Cut to Reduce at AlphaValue

* Santander Bank Polska Cut to Neutral at Citi

>>> Initiation

* Evolution Rated New Neutral at Citi; PT 825 kronor

* Fenix Entertainment Rated New Outperform at EnVent S.p.A.

* Sinch Re-Initiated Hold at Handelsbanken; PT 1,250 kronor

>>> Call

* Builders’ Merchants Momentum Should Continue in 2021: Peel Hunt

* Citi Upbeat on Beverages, ‘Slightly More Bullish’ on Carlsberg

* EDF Guidance Raise to Boost EPS Consensus by 15%: Morgan Stanley

* Evolution Gaming a Long-Term Growth Story, Citi Says

* K+S Positive Free Cash Flow Goal Unlikely Before 2023: Baader

Nikkei +0.18% Hang Seng +0.30% CSI +1.03% Shanghai +0.87% Shenzen +0.70%

Eur$ 1.2231 CNH 6.5107 CNY 6.5353 JPY 103.29 GBP 1.3560 CHF 0.8836 RUB 73.1672 TRY 7.7832 WTI$ 48.38 +1.17%

S&P +0.30% Nasdaq +0.31% EuroStoxx +0.25% FTSE +0.39% Dax +0.34% SMI

Macro :

- Bitcoin Tops $22,000 and Strategists Say Rally Has Further to Go

- EU Says Fishing Rights Are the Last Major Hurdle: Brexit Update

- CNBC: Dr. Fauci says U.S. could return to normal by mid-fall if most people get Covid vaccine https://t.co/WDsGFbPY4M

- Europe Car Sales Fall 14% on Drags From Stricter Virus Measures

Keep an eye on :

- AEIN GY : Allgeier Sees 2021 Revenue EU360M to EU400M

- AKSO NO : Aker Solutions Wins Carbon Storage Contracts Worth NOK1.3b

- AOWME NO : Aker Offshore Wind Increases Stake in Principle Power Inc

- BMPS IM : Monte Paschi Plan to 2025 to Include 3,000 Job Cuts: Ansa

- BAVA DC : Bavarian Nordic Gets 2nd Part of U.S. Smallpox Vaccine Order

- BOO LN : Boohoo Has Made Mistakes, Is Committed to Change, Chairman Says

- CA FP : Carrefour Brasil Pays Makro BRL519.3m For Stores, Gas Stations

- CTY1S FH : Citycon Decides on Quarterly Dividend Payment

- EDF FP : EDF Plans to Resume Cash Dividends From 2022, Staff Reps Say

- EDF FP : EDF Raises FY Ebitda Goal to EU16B or Slightly Above

- EPL PL : EDP Says It Has Completed the Acquisition of Viesgo

- EXPN LN : Sky News: Salary Finance lines up new backer in Experian with £20m fundraising https://t.co/ZGNsNnBbjn

- EKT SM : First State in Bid for 49% of Euskaltel’s Fiber Unit: Expansion

- GFS LN : Garda World to Keep Cash Offer for G4S Open Until Jan. 6

- GFS LN : G4S Board To Back Allied’s Offer Despite Garda Extension

- GLJ GY : Grenke Says KPMG Hasn’t Found Evidence Supporting Fraud Claims

- HAG GY : Germany Plans 25.1% Stake in Defense Co Hensoldt Costing EU450M

- HUBN SW : Huber+Suhner Resumes Production After Cyberattack: AWP (Dec. 16)

- NOKIA FH ; Nokia Names Veoneer’s Batra as Chief Strategy, Tech Officer

- NOVN SW : Novartis to Buy Cadent Therapeutics for $210M Upfront

- UG FP : ISS Gives ‘Qualified’ Support for PSA-Fiat Chrysler Merger Plan

- SCR FP : Scor Says Ribadeau-Dumas to Succeed Kessler as CEO

- SECARE SS : SwedenCare to Offer SEK200m Shares via Pareto Securities, SwedenCare Offering Prices 750k Shares at SEK296/Share

- SCMN SW : Swiss Comco Opens Probe Into Swisscom’s Optical Fiber Network

- VIV FP : Italy Court May Delay Ruling on Vivendi Stake: Ansa

- VOW GY : Lamborghini CEO Sees Stable Sales Next Year After Virus Hit

- WDI GY : Wirecard Liquidator Seeks 2017-2018 Balance Sheet Annulment: HB

- WPP LN : WPP Plc Increases Offer for WPP AUNZ to A$0.70-Share Cash

In 2015, Griffin paid a then-record $60 million for two penthouse units at the Faena House in Miami only to put them on the market the following year for $73 million. He reportedly planned to combine them but never did.

Now Griffin, worth an estimated $15 billion according to Forbes, is poised to take a $12.5 million loss on the properties. He sold the bigger penthouse unit for $35 million, and the second property, which recently asked for $12.5 million, is in contract, according to The Real Deal.

The Faena building — an ultra-luxury oceanfront condo developed by Alan Faena, an Argentine developer and hotelier, and Ukrainian-born oligarch Len Blavatnik — has been riddled with problems since it was completed in 2016.

Last September, the condo association sued the developer, general contractor and subcontractors for faulty work, including a broken elevator in the penthouse, missing art, cracks in the concrete and bad paint jobs, the Real Deal reported.

“Buyers were upset with the concrete cracks from the start,” said one top broker who derided the building as “so nouveau.”

Faena House owners are also reportedly upset about Blavatnik’s planned investment in a 250-foot tower next door to be developed by fellow oligarch, real estate developer and hotelier Vlad Doronin, who got his start with the late former US fugitive Marc Rich before the collapse of the Soviet Union.

Douglas Elliman’s Oren Alexander repped buyer and seller for the larger unit. Ryan Mendell of Maxwell E. Realty repped Griffin in the sale of the second unit. Both brokers declined comment. Griffin did not respond for comment at press time.

That’s not to say Griffin, founder and CEO of Chicago-based Citadel, is giving up on Florida. In fact, he appears to be expanding his footprint in the Sunshine State both personally and professionally.

He’s spent around $95 million on four lots on Miami Beach’s Star Island, a star-studded enclave off the coast of Miami that’s home to celebrities like Sean “Diddy” Combs, including $60 million for three lots in August.

He’s also shelled out some $350 million for land in Palm Beach, where he’s launched a temporary office for his market-making business, Citadel Securities. The Citadel hedge fund business is also opening an office in Miami next year but will remain headquartered in Chicago, a person with knowledge of his plan confirmed to The Post.

Deutsche Börse has announced similar requirements for new entrants to the Dax index

Tesla joined the Russell 1000 stock index back in September 2010, priced at just $4.40 a share, and zoomed into the rival Nasdaq 100 benchmark in July 2013, when it was trading at $26 a pop.

It is now the sixth-largest constituent in each with a market capitalisation of $606bn.

Yet Elon Musk’s love child will only make its debut in the S&P 500 next week — probably at north of $600 a share.

For investors in exchange traded funds and other passive products tracking these indices, this matters. Some are sitting on bumper windfall gains in Tesla because its share price has risen sharply since their index trackers bought in. Quite a few others — given that the S&P 500 has an estimated $4.6tn indexed against it — are only now about to buy it.

The primary hold-up has been that, unlike most equity benchmarks, the S&P 500 insists that all new entrants must be profitable, a criterion Tesla has only now satisfied.

The select club of indices with this requirement is growing larger, though: Deutsche Börse said last month that its Dax index, the benchmark index for German blue-chip stocks, will henceforth only admit profitable companies.

“We got feedback that membership of the Dax is an important measure of a company’s success,” said Stephan Flägel, global head of benchmarks and indices at Qontigo, the arm of Deutsche Börse Group that includes the Dax and Stoxx families of indices.

“Members of the Dax should have a way of showing they have a viable business model and having profitability or positive cash flow is one measure to indicate that,” he added.

The move is part of a wider revamp of the Dax, which will expand from 30 to 40 stocks, after the Wirecard scandal that saw the formerly high-flying index constituent implode after saying €1.9bn was missing from its accounts.

From now on, all new entrants to the Dax must have positive ebitda (earnings before interest, taxation, depreciation and amortisation) in their two most recent annual financial statements. The measure will not apply to existing index constituents in order to minimise turnover.

“We have made these changes partly due to the issues we have encountered this year in general, with volatility in the market, but also the issues around Wirecard which prompted us to look at our rules and methodologies across our indices,” Mr Flägel said.

The profitability screen is tighter than that for the S&P 500, which only insists on a company’s most recent quarterly earnings and the sum of its trailing four consecutive quarters’ earnings both being positive.

However, it would not have been sufficient to bar Wirecard from entry to the prestigious German index, given that it was reporting positive ebitda for years before its implosion.

“The information that you can take into account is publicly available information taken from company reports, filings for example. That is often not sufficient to identify a fraud-type situation,” said Arne Staal, global head of research and product management at LSEG, owner of FTSE Russell, which does not use profitability screens.

If the filings are bogus, “there’s nothing we can do about that,” Mr Staal added. “The nature of fraud is that it’s hard to detect from public filings. Look at Enron.”

Mr Flägel said Stoxx had received more than 600 responses to its consultation, and that “the profitability criteria, that proves the viability of a company’s business model, [had been] welcomed by the market”.

As for missing out on fast-growing, but not yet profitable companies, Mr Flägel said they would still qualify for the group’s MDax index of mid-cap stocks.

There are no plans for the wider Stoxx index family to adopt profitability filters.

Sebastien Lieblich, global head of equity solutions at MSCI, said it had no plans to add profitability screens to its indices, as its role was to “capture the broadest investable opportunity set for international investors”. Only stocks with insufficient liquidity or free float availability, or markets that are closed to foreign investors, are omitted, he said.

Screening on the basis of profitability “would be applying a preference, it would be a kind of active stance”, Mr Lieblich said, adding that investors could instead adopt a “smart beta” factor tilt such as quality or dividend yield if profitability was an important metric for them.

FTSE Russell’s Mr Staal agreed, arguing that “pure market cap [weighted] indices represent the available investment opportunity as accurately as possible”, with stock prices inherently incorporating “the market’s view of the profitability and viability of a company”.

And while he “completely agreed” that companies should have a viable business model in order to be included in an index, “the question is what does viable mean and how do you measure it?”.

“A company can have positive ebitda and negative cash flow. To a lot of people that means the company is not profitable,” he added.

This complexity is highlighted by the S&P 500’s profitability screen. Although, like the Dax, it is predicated on ebitda, this is a different measure of ebitda as it is calculated using US GAAP accounting standards, which differ from the principles-based IFRS standards used in Europe.

Howard Silverblatt, senior index analyst at S&P Indices, said given the 500’s “heavily institutionalised” investor base, it was “looking for profitability and stability in companies”, not those that are “in development or any kind of a definition of a start-up”.

He accepted this could mean getting delayed exposure to a stock like Tesla, but argued it also avoided exposure to duds.

“You can potentially keep somebody out who is going to be the next Apple, but most companies will be at the other end [of the spectrum],” he said.