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JAY-Z and Roc Nation have invested in Fanatics, Michael Rubin’s sports licensing giant which is now valued at US $ 18 billion.
The significant investment aligns with the Fanatics plant to expand its technology and consumer databases to enter new markets including NFTs, gaming, sports betting and media. Along with the investment from JAY-Z and Roc Nation, MLB, SoftBank, Silver Lake, Eldridge, TWG Sports Media & Entertainment and Insight Partners nearly tripled the company’s business this year, raising an additional $ 325 million. .
The Expanded Fanatics will be led by current Executive Chairman Rubin, who will assume the role of CEO. Doug Mack, CEO of the company’s vertical commerce business, will retain this role while also assuming the role of vice president of the broader company.
Elsewhere on JAY-Z’s agenda, the high-end rapper could reunite with Kanye West for a second collaborative album, Watch the throne 2, following the 10th anniversary of the duo’s first double disc, Look at the throne, on Sunday.
Justin LaBoy – a creative from Ye – announcement the news in response to a fan on Twitter. “Watch The Throne 2 at the end of the year. Kanye & Hov set to remake history,” he wrote, before to reiterate its point in another tweet, “YES. HOV & YE are rebuilding again. They’re both rich enough to quit rapping, but the passion they share of making fans happy has them back to work.
Last week, JAY-Z announced plans to hire 100 new employees for the reopening of his 40/40 club in New York City.
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