Kobe Bryant Invested $6 Million in Tech 5 Years Ago, Now It’s Worth $200 Million
Kobe Bryant retired from the NBA after a glorious 20-year career as a basketball player that earned him over $330 million. After retirement he decided to pursue a career in venture capitalism and entrepreneurship. In 2016, the former Lakers teamed up with investing powerhouse Jeff Stibel to start a multi-million fund for tech firms.
They have partnered with 15 tech companies since they founded the fund in 2013 and are offering $100 million in investment for up-and-comers in the growing industry. The money was focused on data, tech, and media companies including4 The Players’ Tribune, LegalZoom, and a video game design company called Scopely.
In 2018, Bryant participated in a fundraising for a startup named ringDNA, which provides a platform to enterprises for effective sales management. Investors manage to raise over $30 million in the investment round. The fund-raising campaign was spearheaded by the investment firm Palisades Growth Capital and overseen by Goldman Sachs. Both Bryant and Jeff Stibel were at the forefront of the campaign.
The company uses the power of artificial intelligence to analyse the client firm’s conversion date and help its sales team to build a better relationship with customers. ringDNA has reported consistent profit growth for the past two years and it plans to become even more profitable after using the funds from the latest investment round to grow their business even more.
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