Adam Schefter Among Early Investors to Cash In on Underdog Sale
Schefter first invested in Underdog in 2021.
NFL insider Adam Schefter, alongside notable investors such as Mark Cuban, Kevin Durant, and Jared Goff, was among early contributors to Underdog, a fantasy sports and prediction market operator. In 2021, Schefter, together with a group of investors, raised $10 million for Underdog. Just recently, Underdog was sold to online trading firm IG Group for up to $2.15 billion, with $1.1 billion paid upfront, a $200 million earnout contingent on the company's future performance, and a potential $850 million payout to eligible Underdog employees.
Schefter was identified as an early-stage investor by an Underdog spokesperson, though he has not made further investments or participated in the company's operations since.
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