StockX, an online marketplace for sneakers and collectible items, has named former TaskRabbit CEO Stacy Brown-Philpot as its first female board member.
Many, including Business Insider, believe the move is another sign StockX is setting itself up to go public early next year. Brown-Philpot said StockX being based in Detroit, which is her hometown, played a part in her decision to join the firm.
“I’ve been following StockX for a long time because I’m from Detroit and this is one of the most successful companies to be started out of my hometown,” Brown-Philpot told Business Insider.
Brown-Philpot also serves on the boards of HP, Nordstrom, and Noom and is a founding member of the SB Opportunity Fund, an investment firm led by SoftBank‘s Marcelo Claure. The opportunity fund invests in companies led by founders and entrepreneurs of color.
StockX CEO Scott Cutler said Brown-Philpot’s expertise in consumer marketplaces and passion for creating diverse and inclusive opportunities made her the perfect choice for the board.
“As we grow, we must also expand the voices that guide us — ensuring we have the right experience, perspective, and knowledge,” Cutler said in a statement.
Brown-Philpot served as TaskRabbit’s CEO from 2017 through last June and shocked the tech industry with her departure. Her appointment to the StockX’s board comes at the same time the Securities and Exchange Commission approved Nasdaq’s board diversity proposal, which requires companies listed on the Nasdaq to meet certain diversity requirements on their boards.
The Stanford University graduate added the death of George Floyd made her realize the work is not done for equality in life and the workplace.
“We’re not done, and we have to be responsible and we have to be accountable and we have to push for change and we have to lead in the way that we want to see other leaders behave and act,” Brown-Philpot said. “And we have to hold people accountable when they don’t do that.”