Kevin Durant's Investment Apps: Secrets To His Success

Kevin Durant is a world-renowned basketball player with an impressive portfolio of accomplishments on the court. However, he has also built a reputation as a savvy investor with a diverse range of investments. Durant has invested in over 40 companies, including early-stage tech startups, financial platforms, food delivery services, and sports-related businesses. With a net worth of over $150 million, Durant is not only successful on the basketball court but also in the business world. So, which investment apps does Kevin Durant use? Let's take a look at some of his notable investments and partnerships.

Kevin Durant's investment in the Overtime app

Kevin Durant is one of the world's highest-paid athletes, with a net worth of over $200 million. He has built an impressive portfolio of off-court investments, including more than 40 companies, through his investment firm Durant Co. and Thirty Five Ventures, which he founded in 2017 with his longtime manager and friend Rich Kleiman.

Durant has invested in the Overtime app, a sports-media startup with the ambition of becoming an ESPN-sized brand for high-school sports. Founded in 2016 by Dan Porter and Zack Weiner, Overtime has raised over $35 million in funding from big names like Durant, Jeff Bezos, and Drake, with the company reportedly valued at over $500 million. The app showcases short-form video content of high school athletes, primarily basketball players, and provides some of them with guaranteed salaries of up to $100,000.

Durant's investment in Overtime aligns with his interest in sports-related businesses and his own experience as a professional athlete. He has also invested in other sports-focused companies, such as the Philadelphia Union's ownership group, where he holds a 5% stake with another 5% option.

Overtime's content is distributed on social media platforms like Instagram, YouTube, Snapchat, and TikTok, catering to younger audiences who are increasingly consuming sports content through these channels. The company has content partnerships with major brands and media companies, including ESPN, NBCUniversal, and Gatorade.

Durant's investment in Overtime is part of his diverse investment portfolio, which also includes companies in the technology, esports, cannabis, and broadcasting spaces. His investments have contributed to his success off the court, with reports suggesting that he earned $35 million from his off-court investments in 2019 alone.

Kevin Durant's investment in the Philadelphia Union soccer team

Kevin Durant has a 5% ownership stake in the Philadelphia Union, with the option to purchase an additional 5%. Durant's business partner, Rich Kleiman, will work with the Union through their company Thirty Five Ventures on marketing opportunities that will focus on growing the Union footprint in the sports world. Thirty Five Ventures will also work with the Union to expand its community outreach in conjunction with the Kevin Durant Charity Foundation (KDCF).

Durant's investment in the Philadelphia Union is part of a larger trend of sports investment firms projecting a busy time for sports franchises as limited-partnership transactions could heat up, especially in overseas soccer leagues, due to the economic impact of Covid-19 on team owners. In addition to his investment in the Philadelphia Union, Durant has also invested in other sports-related companies such as Overtime, an app that showcases high school athletes, and the Overtime app.

Durant's decision to invest in the Philadelphia Union was influenced by his connection with Jay Sugarman, the Union's owner and CEO of real estate investment firm iStar. Sugarman was impressed by Durant's gentleness and willingness to make time for everyone during his visit to the Union's campus in Chester, Pennsylvania. Sugarman also found common ground in the way Durant approaches his professional life, preferring to operate outside of the public eye and let his work speak for itself.

Durant has expressed his excitement about partnering with the Philadelphia Union and has committed to working with the Union to improve the Chester and Philadelphia communities through his charity foundation. He has also stated that he wants to create content that he likes and that his ultimate goal is to create generational wealth that can be passed down to future generations of Durants.

Kevin Durant's investment in the Dapper Labs NFT platform

Kevin Durant is moving into the world of NFTs, having partnered with Vancouver-based NFT giant Dapper Labs. Dapper Labs, which launched in 2018, uses blockchain technology to bring new forms of digital entertainment to fans worldwide.

Durant's media network company, Boardroom, has entered into a two-year partnership with Dapper Labs. Boardroom, founded in 2019 by Durant and his longtime sports manager, Rich Kleiman, is backed by Thirty Five Ventures, focusing on the business of sports with written content, social media campaigns, events, and more.

The deal with Dapper Labs will be multifaceted, with various "touch points" to bring Durant's prominence in the sports industry to life in the NFT space across Dapper Labs' NBA Top Shot platform. Durant will also have a creative development role, where he will be curating and creating NBA Top Shot "moments", video content, and more.

Durant is excited about the potential of NFTs to bring fans closer to players and build community across sports in new and innovative ways. He said, "Top Shot is the future for basketball fans – bringing them closer to players and building community across the sport in new and innovative ways. At Boardroom, we’ve also been at the forefront of the NFT space, and I’m excited to partner in advancing NFT’s further into the mainstream, creating and curating exclusive Moments and content with Top Shot."

Kevin Durant's investment in the Coinbase cryptocurrency exchange

Kevin Durant has a net worth of over $200 million, making him one of the richest black Americans. He has been very successful in his off-court investments, with his most successful investments coming from what he makes off the court. In 2019 alone, Durant earned $35 million solely from his off-court investments.

Durant's investment company, Thirty Five Ventures, has invested in more than 100 early-stage companies, with a focus on sports, e-sports, technology, cannabis, and broadcasting. One of their most noteworthy investments was in Coinbase Global, Inc. (NASDAQ: COIN), a cryptocurrency exchange platform.

Coinbase went public in April 2021 with a valuation of $86 billion after its first day of trading. Durant initially invested in Coinbase in 2017, and his investment became 54 times more valuable after it went public. Thirty Five Ventures first interacted with Coinbase in 2016 when they participated in the company's 2017 Series D funding round, which raised $100 million at a $1.6 billion valuation.

Durant has expanded his role with Coinbase, entering into a strategic marketing partnership and collaboration with the company. As part of the deal, Durant will become a prominent face of Coinbase, appearing in ads and sponsored content. In return, Coinbase will support Durant's youth programs and provide digital ads and sponsored content for his sports site, Boardroom.

Coinbase will also encourage crypto education for young people through its partnership with the Kevin Durant Charity Foundation (KDCF) and incorporate a philanthropic arm. Thirty Five Ventures will work with Coinbase on several initiatives, including creating NFT drops and content specific to the crypto realm.

Kevin Durant's investment in the Acorns micro-investing app

Kevin Durant is an NBA star and one of the world's highest-paid athletes. He has a net worth of over $170 million as of 2020, and his success off the basketball court is notable.

Durant has invested in over 40 companies, including the microlender Acorns. Acorns is a financial investment platform founded in 2012 that focuses on micro-investing. This is an investment method that allows individuals to regularly fund a diverse set of companies with small amounts of money from their personal purchases. Acorns is backed by Paypal, BainCapital, and several other investors. In 2019, the company was valued at $860 million and had 7 million sign-ups amid the pandemic.

Durant's involvement with Acorns is part of an endorsement-deal-meets-investment, and he has netted a remarkable return on his initial position. Reports suggest that Durant has seen a 16x return on his investment, which was initially worth $1 million. This means Durant's stake in the company is now worth over $15 million.

Durant's other investments include Coinbase, Robinhood, and Postmates. He has also invested in sports-related companies, such as the Philadelphia Union soccer team and the Overtime app, as well as the cannabis business and franchising.

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