Just last year, sports league startup Overtime raised $80 million in its Series C funding round, as previously reported by AfroTech. For 2022, the Drake and Jeff Bezos-backed company is scaling even further. Overtime has raised $100 million in its Series D funding round, according to a press release. The round was led by Liberty Media Corporation and Counterpoint Global and included investors such as Bezos Capital, Winslow Capital, Blackstone, and Sapphire Sport. With the new funding, the leading sports brand is diving into Web3 and e-commerce, per the release. Additionally, it will expand its Overtime Elite (OTE) basketball league, OT7 high school football league, new sports leagues, and sports digital content — both short-form and long-form. “This significant investment co-led by Liberty Media, who has fostered the explosive growth of Formula 1, is a real validation of the disruptive sports IP that we have created over the past year,” said Dan Porter, Overtime’s CEO and...
Aug 10, 2022
Overtime Elite (OTE) — self-described as “the future of basketball” is turning teen hoopers into six-figure earners. According to The Gazette, the three-team Atlanta-based league is paying its young basketball players $100,000 and over, along with leading them to become NBA stars in the near future.
May 30, 2022