April 30th 2024.
Meet Venita Cooper, the visionary behind Silhouette Sneakers & Art. She has taken her love for sneakers to new heights by delving into the world of technology. Her brainchild, Arbit, is a groundbreaking startup that utilizes artificial intelligence to forecast fair prices in the sneaker resale market, catering to avid sneaker enthusiasts.
In the world of sneaker trading, the Jordan 1 Retro Low OG Year of the Rabbit DV1312-200 has seen a whopping 50.42% price increase, with a premium of $70.58. This week's average is $723.25, while last week's average was $652.67. These figures were tweeted by Arbit on January 30, 2024.
On March 11, Cooper made a significant announcement about her brick-and-mortar sneaker store, situated in the historic Greenwood neighborhood of Tulsa, Oklahoma. This area is famously known as "Black Wall Street." She revealed that she would be selling the store to a third-generation Tulsan, Kellen James. According to Marketplace, Cooper stated, "There's a specific type of person that I wanted to take over Silhouette. And for me, it had to be someone from Tulsa, from North Tulsa, with strong roots in this community."
As per a press release in 2023, Cooper's motivation for creating Arbit stemmed from her personal struggles with unpredictable pricing in the sneaker market, both as a business owner and a collector. She expressed, "Arbit's algorithm is revolutionizing the resell market for sneakers by empowering smarter transactions and a more efficient marketplace. Our users are not only saving money but also making money."
Arbit is the first of its kind to incorporate an unbiased predictive valuation tool specifically for sneakers. Its aim is to assist sellers by compiling data that significantly impacts pricing, providing users with the most accurate fair-market and projected valuations. On October 10, 2023, this tech startup announced a staggering $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 creating a meticulously curated retail destination that would bring exclusive and verified sneakers, as well as streetwear apparel, to the city of Tulsa. The boutique proudly showcases brands like Adidas, Nike, Jordan, New Balance, and Yeezy, among others. Cooper mentioned to Marketplace that she aspired to build something that would truly resonate with the community. She also revealed her plans of staying in Tulsa for the foreseeable future.
Arbit is gearing up to release a test version for a select group of users. You can sign up now for early access to Arbit's beta version.
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