Kevin Durant's Coinbase Investment: A Smart Move?

Kevin Durant, the Brooklyn Nets star forward, has a rich investment portfolio featuring some of the most promising startups in Silicon Valley. Through his own investment company, Thirty-Five Ventures, Durant has invested in companies such as Postmates, Robinhood, and Acorns. One of Durant's most notable investments was in the cryptocurrency platform Coinbase. In 2017, when Coinbase was valued at $1.6 billion, Durant and his business partner Rich Kleiman invested in the company. At the time, Coinbase was securing capital for their Series D funding, which raised over $100 million.

Kevin Durant's investment in Coinbase has grown 53-62.5 times since 2017

Kevin Durant, the third-highest earner in the NBA, has had a highly successful business career off the court. Through his own investment company, Thirty-Five Ventures, Durant has invested in around 50 startups, including some of the most promising in Silicon Valley.

One of Durant's most notable investments was in the cryptocurrency platform Coinbase. In 2017, Durant and his business partner Rich Kleiman, through Thirty-Five Ventures, invested in Coinbase when it was valued at $1.6 billion. On April 14, 2021, Coinbase went public and was valued at $100 billion, an increase of 61.5 times since Durant's initial investment. This increase in valuation means that Durant's investment in Coinbase has grown between 53 and 62.5 times since 2017.

While the exact amount Durant invested in Coinbase is not known, it is estimated that he invested between $500,000 and a few million dollars. With the significant increase in Coinbase's valuation, Durant's investment has likely resulted in a substantial payday, further bolstering his business success outside of his NBA career.

Durant's other notable investments include Postmates, Robinhood, Acorns, and JetSmarter. He has also joined the Philadelphia Union's ownership group as an investor and community partner. His endorsement deals and investments have earned him substantial amounts off the court, showcasing his diverse business ventures and financial acumen.

KD's investment company, Thirty Five Ventures

Kevin Durant's investment company, Thirty Five Ventures, is a multi-faceted media and investment company that he co-founded with his longtime business manager and partner, Rich Kleiman. The company is based in New York and has 15 full-time employees. It focuses on Durant's endorsements, startup investments, media properties, and foundation.

Thirty Five Ventures has invested in over 50 startups, with most investments ranging from $250,000 to $1 million. The company was part of Coinbase's Series D funding round in 2017, which raised $100 million at a $1.6 billion valuation. At the time, KD and Kleiman invested approximately $250,000 in the company. When Coinbase went public in 2021, its valuation had increased to around $100 billion, a 61.5x increase since KD's initial investment.

Durant's other investments through Thirty Five Ventures include Postmates, Robinhood, Acorns, JetSmarter, and the Philadelphia Union's MLS franchise, where he owns a 5% stake with the option to purchase an additional 5%. Thirty Five Ventures has also invested in emerging sports teams and leagues, including the Major League Pickleball team, the Brooklyn Aces, and NWSL champions, Gotham FC.

In addition to his investment endeavours, Durant has also produced several film and TV projects under the Boardroom umbrella, including the Academy Award-winning "Two Distant Strangers", the Apple TV+ series "Swagger", and the Emmy-nominated documentary "NYC Point Gods".

KD's other investments include Acorns, Robinhood, and Postmates

Kevin Durant (KD) has a rich investment portfolio that includes some of the most promising startups in Silicon Valley. Through his own investment company, Thirty-Five Ventures, KD has invested in companies such as Acorns, Robinhood, and Postmates.

In 2016, KD invested approximately $1 million in then-startup food delivery business Postmates. When Uber Technologies purchased the company for $2.6 billion in 2020, KD pocketed an estimated $15 million. This is a testament to KD's savvy business sense and his ability to spot promising investment opportunities.

Acorns is a simple investment app that helps users save and invest their money. It offers a variety of features, including the ability to invest spare change, earn bonus investments, and access expert-built, diversified portfolios. Acorns also provides banking services and debit cards, with competitive APYs on checking and emergency fund accounts.

Robinhood is a popular online brokerage that allows users to invest in stocks, options, ETFs, and cryptocurrencies with no commissions. It has revolutionized the investing industry by offering commission-free trading and a user-friendly platform, making the financial markets more accessible to individual investors.

In addition to his investments in Acorns, Robinhood, and Postmates, KD has also invested in other promising startups, including JetSmarter. He also joined the Philadelphia Union’s ownership group as an investor and community partner. With his diverse investment portfolio and sharp business acumen, KD is not just a basketball superstar but also an investment tycoon.

KD's net worth is around $170 million

Kevin Durant, the American professional basketball player, has a net worth of $170 million, according to a 2021 report. This figure is expected to be even higher now, as Durant has continued to earn millions through his NBA career and off-court investments.

In 2019, Durant signed a four-year, $164 million contract with the Brooklyn Nets. He is one of the highest-paid players in the NBA, with a salary of $42 million. His multiple endorsement deals with major brands like Nike, Gatorade, and Degree, among others, allow him to earn tens of millions of dollars more each year. In fact, between June 2019 and June 2020, Durant earned a total of $65 million from his various endeavours.

Durant is also an active tech investor with a keen interest in startups. He has invested in more than 40 early-stage technology companies through his firm, Thirty Five Ventures, which he co-founded with his longtime business manager, Rich Kleiman. One of his most notable investments was in Coinbase, the cryptocurrency exchange platform. When Durant invested in Coinbase, the company was valued at $1.6 billion. On its first day of public trading, Coinbase's stock closed at $328, resulting in a fully diluted valuation of $86 billion. This massive increase in valuation meant a significant return on Durant's investment.

In addition to his investments, Durant has also ventured into media and film projects. He owns a media company that has production deals with Fox, ESPN, Apple, and Showtime. He was also a producer on the Oscar-winning film "Two Distant Strangers" in 2021. With his diverse income streams and successful investments, it's no surprise that Kevin Durant's net worth is estimated to be around $170 million.

KD's biggest financial commitment was for a 5% stake in Major League Soccer's Philadelphia Union franchise

Kevin Durant, the Brooklyn Nets star forward, has a rich investment portfolio featuring some of the most promising startups in Silicon Valley. He has invested in around 50 startups through his investment company, Thirty-Five Ventures, including Postmates, Robinhood, Acorns, and JetSmarter.

Durant's biggest financial commitment was for a 5% stake in Major League Soccer's Philadelphia Union franchise, with the option to purchase an additional 5%. The deal made him a part-owner of the team and gave him an opportunity to expand his influence beyond basketball. The Union’s majority owner, Jay Sugarman, stated that the team’s valuation is more than $325 million. While the exact amount Durant paid for his stake is unclear, this investment demonstrates his interest in diversifying his investments and expanding his business ventures.

Durant's decision to invest in the Philadelphia Union was influenced by his desire to have an impact beyond sports and to align himself with a franchise that was making a difference in its community. He was drawn to the potential for community impact in Chester and Philadelphia, and he intends to work with the Union to expand its marketing opportunities and community outreach. This aligns with his off-court endeavours, as he also runs the Kevin Durant Charity Foundation, which aims to improve the lives of at-risk youth and families.

In addition to his investment in the Philadelphia Union, Durant has also made notable investments in the cryptocurrency exchange platform Coinbase. He invested in Coinbase when it was valued at $1.6 billion, and its valuation increased to an estimated $100 billion when it went public, demonstrating his ability to identify promising investment opportunities.

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