Backpack Exchange: Raises at $1B valuation

Backpack Exchange is reportedly raising capital at a valuation of $1 billion, per Axios.

Axios cites unnamed sources and the report does not disclose the round size, participating investors, or a timeline for the raise. Further confirmations or details from the company have not been included in the report.

If verified, this fundraising and valuation would be a significant financing milestone for Backpack Exchange, potentially supporting faster product development and market expansion.