Drake Joins Jeff Bezos, Other High-Profile Celebrities To Invest In Sports Media Start-Up Overtime
Drake Joins Jeff Bezos, Other High-Profile Celebrities To Invest In Sports Media Start-Up Overtime! As fans continue to anticipate on Drake’s upcoming album, Certified Lover Boy, the Toronto rapper is reportedly making some major money moves behind the scenes. Over the years, the “Hotline Bling” rapper has grown his business portfolio with investments in entertainment, sports and gaming. According to a report by Variety, Drake is among high-profile celebrities who helped raise $80M in Series C funding for Overtime – a sports and entertainment start-up.
Overtime is a start-up company based in Brooklyn geared towards creating content that highlights high school basketball stars. The new capital will be deployed towards expansion of the platform and their operations as well as their high school basketball league Overtime Elite later in the year. The high school league will a guarantee salary of at least $100K a year to all its players amid plans to increase the company’s 125-person staff with an additional 80 employees.
Drake joins other high-profile celebrities and venture capitalists that are backing the venture. Among them is Jeff Bezos with his personal investment company Bezos Expeditions as well as Alexis Ohanian who have also invested in Series C funding.
More than 25 professional former and current NBA players have also reportedly invested in the company. They include Devin Booker, Lonzo Ball, Aaron Gordan, Isaiah Thomas, Klay Thompson, and Nick Young, among others.
“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,” Overtime 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 also plans to launch NFT’s, trading cards, as well as sports betting for young fans with their new funding.
