IBM Cloud Helps StockX to Redesign and Scale Operations

           IBM Cloud Helps StockX to Redesign and Scale Operations

Online stock market for in-demand consumer goods taps into IBM Cloud to fuel
growth

PR Newswire

ARMONK, N.Y., July 13, 2017

ARMONK, N.Y., July 13, 2017 /PRNewswire/ -- IBM (NYSE: IBM) today announced a
collaboration with Detroit-based StockX to design, build and deploy a new app
on the IBM Cloud to help scale operations and meet the needs of an expanding
user base.

IBM Corporation logo. (PRNewsFoto/IBM Corporation) (PRNewsFoto/)

Since launching in 2016, StockX has built a rapidly growing following as a
secure and trusted online platform to buy, sell and trade in-demand consumer
products. As their success has increased, StockX turned to IBM for help in
designing an app that would enable their operations to expand while
maintaining a critical piece of their customer promise: same-day turnaround
and a careful inspection process that ensures individual product quality. They
selected IBM because of its enterprise expertise in designing cloud strategies
that meet specific business needs.

Guided by the IBM Garage design methodology, StockX engineers worked with IBM
to design and build an app called OpsApp. The team began development by
working to identify key areas to scale their authentication process, such as
manual procedures and logistical challenges. The team then evaluated how the
IBM Cloud could help improve and streamline these processes through its
services, such as object storage and cloud data services.

As a result, OpsApp uses cloud storage to receive shipment tracking data,
real-time market pricing, historical sales and volume metrics. IBM also helped
the StockX team integrate cloud services such as database management, object
storage for images and videos, and DevOps to help drive efficiencies in how
data is accessed and managed across their system.

The app is now helping to improve processing efficiency for the site's growing
volume of sneaker, handbag and watch orders. The StockX authentication team
can quickly locate the data and guidance they need via the cloud-- from images
to tracking information -- leading to faster product validation and shipping.
Since the app is set up to help guide teams digitally through the
authentication process, it's also speeding the on boarding of new staff to
meet growing demands from processing volume.

"Faced with strong growth as we approached $100 million in traded merchandise
value in just one year of business, StockX identified the need to scale our
product authentication process to meet growing demand," said Josh Luber,
StockX co-founder and CEO. "Partnering with IBM allowed us to quickly identify
and explore a new app with IBM Cloud. Senior members of our technology team
now have the freedom to remain confidently 'hands off', enabling a two-person
team to ship features quickly and operate production grade infrastructure
completely by themselves," Luber continued.

"StockX is a company that is transforming the way people buy and sell
in-demand products" said Shawn Murray, worldwide director, IBM Cloud Garages.
"StockX was able to make extensive use of IBM Cloud to experiment with and
operate infrastructure that can support millions of dollars in traded
merchandise. What this company was able to build following the pop-up Garage
in just a matter of weeks is incredible, and is a testament to the power and
potential of agile, data-driven cloud services."

The IBM Cloud Garages are a global network of physical hubs, located across
the world inside entrepreneurial and developer-centric communities such as
Galvanize and WeWork. Each Garage features a team of IBM developers and
designers, who collaborate with other developers, product managers and design
teams across industries to build new innovations on IBM Cloud.

Based in open standards, the IBM Cloud is one of the largest open, public
cloud platforms in the world, featuring more than 150 tools and services
spanning categories of cognitive intelligence, data analytics, machine
learning, DevOps, blockchain and the Internet of Things.

About StockX
StockX is the world's first online 'stock market of things' for in-demand
consumer products, including sneakers, watches and handbags. StockX connects
buyers and sellers using the same methodology as the world's stock markets –an
anonymous 'live Bid/Ask' market. All products are physically authenticated by
StockX, allowing participants to focus on the transparency of data available
–including real-time market pricing, in-depth market analysis, individual
portfolio tracking, historical sales and volume metrics. StockX launched in
February of 2016. StockX TV, its web series, began airing in April of 2017.

StockX, was founded by Luber, StockX COO Greg Schwartz, and Dan Gilbert,
founder and chairman of Quicken Loans and majority owner of the 2016 NBA
Champion Cleveland Cavaliers. The company includes other high profile
investors including Eminem, Mark Wahlberg, Ted Leonsis, Tim Armstrong, Scooter
Braun and Ron Conway.

About IBM Cloud
For more information on IBM Cloud, visit www.ibm.com/cloud-computing.

Media Contact 
Erin Lehr 
IBM Media Relations 
edlehr@us.ibm.com

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SOURCE IBM

Website: http://www.ibm.com
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