Eddy Lu, Co-founder & CEO of GOAT

Authentication

GOAT employs a meticulous authentication process to ensure the authenticity of sneakers sold on its platform. Eddy Lu explains that their authenticators use a combination of senses, including touch, sight, and even smell, to detect counterfeit products 1. This human element is complemented by machine learning and AI, which assist in identifying fakes, although some aspects, like olfactory checks, still require human expertise 2.

We have hundreds of authenticators now as part of GOAT, and there's a 6th sense. They literally look at the box, and they're just, oh, something's wrong with this box.

--- Eddy Lu

This rigorous process has prevented millions of counterfeit sneakers from being sold, highlighting the importance of authenticity in GOAT's mission.

   

Fraud

Fraud poses a significant challenge in the sneaker industry, and GOAT has faced its share of hurdles. Eddy Lu recounts the early days when the company struggled to gain traction, even resorting to purchasing their own products to boost morale 3. The turning point came with a Black Friday promotion that unexpectedly attracted 100,000 new users, demonstrating the potential for growth despite initial setbacks 4.

We literally had tens of users. And from the week before Black Friday to Black Friday, we gained 100,000 users.

--- Eddy Lu

This experience underscores the importance of resilience and adaptability in overcoming fraud-related challenges.