Alex ‘A-Rod’ Rodriguez Backs New ‘Athlete Stock Market’ In Next Major Investment Avenue
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OAKLAND, CALIFORNIA – AUGUST 29: Broadcaster and former MLB player Alex Rodriguez looks on from the field before the game between the Oakland Athletics and the New York Yankees at RingCentral Coliseum on August 29, 2021 in Oakland, California. (Photo by Lachlan Cunningham/Getty Images)
A-Rod along with his business partner Marc Lore has recently undertaken an acquisition into a new company. A truly groundbreaking enterprise that looks set to shake up the athlete market.
The two business partners have recently announced an investment in an app that allows viewers to trade ‘stock’ values for professional athletes. The application may be introduced on the app store later this year; Mojo is set for a big release. And with a new capital inflection too, A-Rod will be eyeing a multiplier on his investment.
Rodriguez and Marc Lore invest in application
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Mojo, the application, is meant to serve as a stock market for professional athletes. Users will be able to use it as a marketplace to buy and sell players at values based on performance. Online trading and gaming applications seem to be the future; Rodriguez is positioning himself to succeed along with business partner Marc Lore.
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Thrive Capital is said to be leading the current round of investment worth $75 Million. The application plans to start its rollout with football before progressing to other sports. And A-Rod will be hoping baseball can fast make inroads too. The investment round also features some stake from the Tiger Global Management Fund.
The expected release of the app is still in the works. However, founder-CEO Vinit Bharara stated that the company is making arrangements with sports leagues, gaming commissions, and regulators for its successful launch.
Alex ‘A-Rod’ Rodriguez – The business mogul
Rodriguez seems to be looking to improve his business sports footprint as best he can after his recent acquisitions. Acting with his partner Marc Lore, A-Rod also purchased a 20% stake in the NBA’s Minnesota Timberwolves and their corresponding WNBA franchise, the Minnesota Lynx, in April 2021. And the investment was then reportedly worth $1.5 billion to buy into the NBA’s lucrative ownership.
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And with a fresh new acquisition strategy, Rodriguez looks to be doing well for himself as he climbs to the top of the hill in his finances. Rodriguez’s recent investments have spanned across a wide portfolio with several private equity and venture capital investments. Starting out as a real estate investment wing, his A-Rod Corp has rapidly expanded its functions.
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But what do you think of his investments? Would you use such an application? Do you think he is being smart with his investments?
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