Jeff Bezos joins Drake, NBA stars and others in $80M backing of Overtime sports media brand

(Overtime Image via Twitter)

Jeff Bezos is among the investors taking part in an $80 million funding round in Overtime, a sports media brand with plans to launch a new basketball league for elite high school players.

The Amazon CEO’s investment company Bezos Expeditions took part alongside notable co-investors such as hip-hop star Drake, Reddit founder Alexis Ohanian, and a host of current and former NBA stars.

Brooklyn, N.Y.-based Overtime calls itself “a publisher and an influencer” and has become a social media juggernaut in five years, with programming across YouTube, Facebook, Instagram, TikTok, Snapchat and more attracting 14 billion views a year. The company has raised more than $140 million to date and runs a popular app and sells branded merchandise.

“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,” Dan Porter, Overtime’s CEO and co-founder, said in a news release. “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.”

Bezos Expeditions has investments in at least 30 other entities listed on its website, including Airbnb, Uber, Twitter, Convoy, Pioneer Square Labs and more.

Overtime plans to use the cash to further expand, branching into NFTs and trading cards and investing more in its sports app. The company is also pushing the launch of OTE, or Overtime Elite, a new basketball league slated to tip off in September and feature star high school players making six-figure salaries.

The New York Times wrote about the league plans last month and what it means for players, the NCAA and NBA.

Source: GeekWire

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