Carmelo Anthony takes a page out of LeBron James’ $725 million media company to endow a $500 million venture
Carmelo Anthony could be wandering around NBA teams as a fringe player right now. However, his investment mettle is legendary.
Carmelo Anthony is one of the most talented scorers the NBA has seen. His great ability to get a bucket is transcendent. He ranks ninth on the all-time scoring list, less than 2,000 points shy of the 30,000 mark.
But more than his ability to get a bucket and operate with remarkable efficiency, there is his ability to identify big business investments. Throughout his career, he has not missed a step when it comes to making big investments.
And it’s probably due to the fact that his entourage includes LeBron James.
The two were in the same draft class and have been close friends for over 2 decades.
It’s safe to say that Carmelo picked up some good habits.
One of them is to invest in a media company. LeBron already owns one in the form of The Springhill Company, which is valued at $725 million!
2) Overtime
Carmelo is an early investor and board member in the sports media company.
He entered at the 2019 Series B round.
Valuation at the time: under $100M.
Overtime current valuation: $500M. pic.twitter.com/9IOjZLOxKo
— Andrew Petcash (@AndrewPetcash) August 17, 2022
Read More: NBA News, Highlights and Trade
Carmelo Anthony’s investment in Overtime recalls LeBron’s foray into the media
Anthony’s investment is nothing short of great. Overtime is growing at a rapid rate. At the time of the investment, he had over 550 million views a month! This is on all social channels. They also had a solid subscriber base of 6 million.
Carmelo and his investment group were part of a $23 million series B financing. The company was valued at 0 million at the time.
Online sports video platform Overtime has announced that it raised US$23 million in its Series B funding round with investment from the likes of Carmelo Anthony, MSG Networks and Andreessen Horowitz https://t.co/3A6g4RzhSL #SportsBiz
— SportsPro (@SportsPro) February 15, 2019
Fast forward to 2022 and Overtime is worth over $500 million. Carmelo’s investment has made a 5x. For more stories like this, stay tuned to this space as we explore our vault over the course of this offseason.
