April 30, 2024
Arbit will provide pricing insights, trend analysis and allow sneakerheads to shop the best prices all from one platform.
Venita Cooper, the founder of Silhouette Sneakers & Art, has seamlessly transitioned her passion for sneakers into the tech realm with the creation of Arbit, a pioneering startup that harnesses artificial intelligence to predict fair prices in the resale market for sneaker enthusiasts.
đđ Biggest WoW (Week over Week) Increase in Price Premium is the Jordan 1 Retro Low OG Year of the Rabbit DV1312-200
50.42% âŹď¸ $70.58
This weekâs avg $723.25
Last weekâs avg $652.67 pic.twitter.com/WA6EBePR8g
On March 11, Cooper announced her decision to sell her brick-and-mortar sneaker store, located in the historic Greenwood neighborhood of Tulsa, Oklahoma, known as “Black Wall Street,” to third-generation Tulsan Kellen James. According to Marketplace, Cooper stated, “Thereâs a certain type of person that it was important to me that they would take over Silhouette…And to me, itâs someone from Tulsa, from North Tulsa, who has roots here.â
According to a 2023 press release, Cooper’s inspiration for Arbit stemmed from her personal experiences navigating price uncertainties in the sneaker market as a business owner and collector. âArbitâs algorithm will change the landscape of resell markets like sneakers by empowering smarter transactions and a more efficient marketplace. Our users are saving money and making money,” she said.
Arbit is the first pricing algorithm application to utilize an unbiased predictive valuation tool specifically for sneakers. Its goal is to support sellers by aggregating data that significantly impacts pricing for users to search a range of sneakers with the most accurate fair-market and predicted valuations. On October 10, 2023, the tech startup announced a $1 million pre-seed funding round led by Lightship Capital, with additional funding from Atento Capital.
In 2019, Cooper launched Silhouette Sneakers & Art with the goal of offering a meticulously curated retail destination that would bring exclusive and verified sneakers, as well as streetwear apparel, to the city of Tulsa. The boutique features brands like Adidas, Nike, Jordan, New Balance, and Yeezy, among others. Cooper told Marketplace that she was hopeful to build something that really resonated with the community. The entrepreneur said she plans on sticking around Tulsa.
Arbit is dropping a test version for a small first circle of users. Sign up for early access to Arbit’s beta now.
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