What is the story about?
What's Happening?
Serena Williams has invested in the women's 3-on-3 basketball league Unrivaled, which has now reached a valuation of $340 million following a new funding round. Williams' investment was part of a Series B funding round led by Bessemer Venture Partners, with contributions from Warner Bros. Discovery and Alex Morgan's Trybe Ventures. This marks a significant increase from the league's valuation of $95 million just a year ago. The investment reflects the growing popularity and financial potential of women's sports, with Unrivaled attracting high-profile investors who are icons in their respective fields.
Why It's Important?
The investment by Serena Williams highlights the increasing recognition and value of women's sports leagues. As women's sports gain popularity, they attract more investment, which can lead to better resources, visibility, and opportunities for female athletes. This trend could encourage more investors to support women's sports, potentially leading to greater gender equality in the sports industry. The involvement of prominent figures like Williams also brings attention to the league, potentially increasing its fan base and commercial success.
What's Next?
Unrivaled may continue to attract more investors and sponsors, further increasing its valuation and influence in the sports industry. The league's growth could lead to expanded operations, more teams, and greater media coverage, enhancing its presence in the sports world. As women's sports continue to rise in popularity, other leagues may follow suit, seeking similar investments and growth opportunities.
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