Overtime, the sports media organization has protected an $80 million appealing round with different investors like global entertainer Drake, Jeff Bezo’s investment firm, Alexis Ohanian the co-founder of Reddit, and multiple National Basketball Association players.
The diversity and width of this massive investment group, including entertainment, business leaders, sports, and technology, speaks to Overtime’s significant development and their future trajectory.
Overtime is a media organization that broadcasts sports content on different social media outlets such as Facebook, Snapchat, and YouTube. This company also works as sells apparel with its branding and logos. Its fundraising arrives after more than one month after Overtime declared for young players a paid basketball league.
Amazon CEO’s personal investment business namely Bezos Expeditions is one of the most crucial companies merged to this round of funding. World reputed investment company Morgan Stanley, Blackstone, and numerous NBA stars like Devin Booker, Klay Thompson, and Trae Young have joined this investment round. Chiney Ogwuike, the WNBA star also comes as an investor.
Overtime, this Brooklyn-based company says it has able to raise $140 million and more. This organization made headlines in March while it declared Overtime Elite. This is a basketball league for 16-18 years old considers them to get at least $100,000 yearly. Till now, the joined players are not yet eligible for collegiate-level play. However, if any OTE players can serve an additional $100,000 for pursuing a professional career. There are multiple users including Brooklyn Nets star Kevin Durant, Silicon Valley Venture capital firm Andreessen Horowitz, and Portland Trial Balzers forward Carmelo Anthony.
