Jeff Bezos, Drake and others invest $80 million in sports media company Overtime
- Overtime raised $80 million in a Series C with investors including Bezos Expeditions, Drake and NBA stars including Devin Booker, Trae Young and Klay Thompson.
- The company will use a portion of the funds to fuel its basketball league that pays 16-to-18-year old players at least $100,000 per year.
Sports media company Overtime has secured an $80 million fundraising round with investors including Jeff Bezos’ investment firm, global entertainer Drake, Reddit co-founder Alexis Ohanian and several National Basketball Association players.
“The breadth and diversity of this investment group, including leaders from business, entertainment, technology and sports, speaks to Overtime’s remarkable growth and our future trajectory,” co-founder and CEO Dan Porter said in a statement. “We believe this is just the tip of the iceberg, as we develop new ways for Overtime to engage with and entertain the next generation of athletes and fans.”
Overtime is a media company that distributes original sports content on social media outlets, including Snapchat, YouTube and Facebook. The company also and sells apparel with its logos and branding. The fundraising comes more than a month after Overtime announced a paid basketball league for young players.
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