Durant's Crypto Move: Investing Millions In Coinbase

Kevin Durant's investment in Coinbase has been a lucrative business venture for the NBA star. Durant's company, Thirty Five Ventures, invested in the cryptocurrency exchange platform when it was valued at $1.6 billion. On its first day of trading, Coinbase opened at $381 per share, giving the company a valuation of close to $100 billion. This marked a significant increase in value since Durant's initial investment, with his stake in the company estimated to be worth millions.

Durant's investment in Coinbase was worth $13.5 million at Wednesday's closing price

Kevin Durant's investment in Coinbase was worth $13.5 million at Wednesday's closing price. This was a huge win for Durant, who initially invested $250,000 in the cryptocurrency exchange platform in 2017 when it was valued at $1.6 billion.

Durant's investment in Coinbase was made through his company, Thirty Five Ventures, which he co-founded with his longtime business manager Rich Kleiman. Thirty Five Ventures focuses on Durant's endorsements, startup investments, media properties, and foundation. The company has 15 full-time employees and has been responsible for investing in around 50 startups, with most investments ranging from $250,000 to $1 million.

Coinbase, founded in 2012, is an online platform that allows consumers to buy, sell, transfer, and store cryptocurrency. As of March 2021, it had 56 million verified users and 7,000 institutions using the platform. The company's revenue more than doubled in 2020 to $1.1 billion and then increased ninefold in the first quarter of 2021 to $1.8 billion.

Durant's investment in Coinbase is part of a larger trend of the basketball star investing in promising startups. He has invested in companies such as Postmates, Robinhood, Acorns, and Rubric, with his biggest financial commitment being a 5% stake in Major League Soccer's Philadelphia Union franchise.

The basketball player invested $250,000 in 2017

Kevin Durant, the NBA superstar, has a rich investment portfolio that features some of the most promising startups in Silicon Valley. He has invested in around 50 startups, most of which have been in the $250,000 to $1 million range.

In 2017, Durant invested $250,000 in Coinbase, a cryptocurrency exchange platform. This investment proved to be a wise decision as Coinbase's value surged. When Durant made his investment, Coinbase was valued at $1.6 billion. By 2021, the company was worth $100 billion, a 61.5-fold increase. This means that Durant's initial investment of $250,000 would have been worth $13.5 million.

Durant's investment in Coinbase was made through his own investment company, Thirty Five Ventures, which he co-founded with his longtime business manager Rich Kleiman. Thirty Five Ventures has 15 full-time employees and focuses on Durant’s endorsements, startup investments, media properties, and foundation.

Durant's investments are not limited to the tech world. He has also invested in several sports-related ventures, including a $35 million funding round for sports highlights startup Overtime and a wearable fitness tracker called Whoop. In addition, Durant made his biggest financial commitment for a 5% stake in Major League Soccer’s Philadelphia Union franchise.

With his successful investments and NBA salary, Durant has secured his financial future, demonstrating his prowess both on and off the court.

Coinbase's value increased 61.5 times since Durant's investment

Kevin Durant's investment in Coinbase has proven to be a very wise one indeed. In 2017, Durant's company Thirty Five Ventures was part of Coinbase's Series D funding round, which raised $100 million at a $1.6 billion valuation. At the time, this was considered a daring move as cryptocurrency was still a very new industry. However, this gamble has paid off handsomely.

When Coinbase went public in April 2021, it was valued at $100 billion, an increase of 61.5 times its valuation when Durant invested. This means that Durant's initial investment of around $250,000 would have been worth $13.5 million at the closing price on the day Coinbase went public. This is a remarkable return on investment and a testament to Durant's savvy business acumen.

Durant has a rich investment portfolio featuring some of the most promising startups in Silicon Valley. He has invested in around 50 startups, with most investments in the $250,000 to $1 million range. His other notable investments include micro-lender Acorns, stock trading platform Robinhood, and food-delivery service Postmates.

Durant's success in the business world is not limited to his investments. He also earns a substantial salary from his NBA career and endorsements. In 2021, he earned $39 million from his salary with the Brooklyn Nets and an estimated $35 million from media and film projects and sponsorships.

Coinbase's impressive growth and Durant's substantial returns highlight the potential of the cryptocurrency industry and the importance of forward-thinking investment strategies.

Durant's company, Thirty Five Ventures, has 15 full-time employees

Kevin Durant's company, Thirty Five Ventures, has 15 full-time employees. The company is a startup that the NBA star founded to invest in tech companies. Durant co-founded Thirty Five Ventures with his longtime business manager and partner, Rich Kleiman.

Thirty Five Ventures has an investment portfolio spanning over 60 companies, including Coinbase, Postmates, Robinhood, Acorns, and Lime Scooters. The company focuses on creating meaningful value for established and emerging businesses so they can thrive and scale. It has participated in several funding rounds, including Series A, Series B, and seed rounds.

In addition to his investments, Durant has also produced content through Thirty Five Ventures. The company created and produced the award-winning short film "Two Distant Strangers", which won an Academy Award in the 'Best Live Action Short' category. They also sold a show called "Swagger" to Apple TV and created "Boardroom," a show similar to LeBron's "The Shop" on HBO, which focuses on the business side of sports.

Durant's investments have paid off handsomely, with his initial $250,000 investment in Coinbase in 2017 worth $13.5 million by 2021. His $1 million investment in Postmates prior to its sale to Uber in 2020 also resulted in a significant gain, valuing his stake at $15 million. Durant's success in business ventures has given him a substantial financial cushion beyond his NBA career.

Durant has invested in around 50 startups

Kevin Durant has made around 50 investments through his company Thirty Five Ventures, which he co-founded with his longtime business manager Rich Kleiman. The company has 15 full-time employees and focuses on Durant's endorsements, startup investments, media properties and foundation.

Durant's investment portfolio includes companies such as Postmates, Acorns, Robinhood, JetSmarter, and Coinbase. He has also invested in the Philadelphia Union Major League Soccer franchise, with the option to purchase an additional 5%. In addition, Durant has joined fellow NBA All-Star Carmelo Anthony in a $35 million funding round for sports highlights startup Overtime.

Most of Durant's investments have been in the $250,000 to $1 million range. For example, he invested $250,000 in Coinbase in 2017, which would be worth $13.5 million at its closing price in April 2021. This was when Coinbase went public at an estimated $100 billion valuation, a 61.5x increase since Durant's initial investment.

Durant has been investing the money from his NBA contracts since his first paycheck and has built an impressive portfolio. He has ramped up his startup investing, particularly when he joined the Golden State Warriors in 2016, building relationships with Silicon Valley power brokers. Several of his investments are in the sports world, including a recent investment in wearable fitness tracker Whoop, alongside other sports stars.

Durant's diverse investment portfolio also includes projects under the Thirty Five Ventures umbrella, such as the sports business vertical "The Boardroom," in partnership with ESPN.

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