More HoopsHype Rumors
July 30, 2021 | 4:08 am EDT Update
Dinwiddie is intrigued by forming a backcourt tandem with Beal, Rui Hachimura’s game, and Washington off the court, a source familiar with Dinwiddie’s thinking, told HoopsHype. With a core of Beal, Dinwiddie, and Hachimura, Dinwiddie believes the Wizards can become a playoff team, the source said. Dinwiddie also is confident he can help recruit players to Washington.
Kevin Durant tallied a 2,500% return on his Robinhood stock today. Remarkably, it’s his second 10-bagger this month. The NBA star bought into Robinhood during the online broker’s venture capital rounds through his Thirty Five Ventures. Robinhood made its stock market debut today at $38 a share, giving it a valuation of $32 billion. Durant’s firm bought into Robinhood in 2017, when it was valued at just $1.2 billion, according to data compiled by Crunchbase.
Robinhood’s return isn’t the only 1,000%-plus return he’s booked this month, a rare level of returns coined a “10-bagger” by investing legend Peter Lynch. The Brooklyn Nets forward tallied another huge paper gain this month when Mercury, an online bank for other start-ups, raised Series B financing at a valuation of $1.6 billion. That’s 16 times what the business was worth when Durant was part of Mercury’s Series A financing in late 2019. Fellow NBA player Andre Iguodala also invested in Mercury at that time.
Durant, 32, focuses his off-court attention more on investing with Thirty Five Ventures than on endorsements. The fund has made more than 75 investments, including in Coinbase, which is up 54-fold from his 2017 acquisition of shares in the cryptocurrency platform. He also has stakes in Acorns, Overtime, NBA Top Shot-maker Dapper Labs and sports card investment platform Alt, among dozens of other active investments. Probably his largest cash outlay has been for a 5% stake in the Philadelphia Union, a Major League Soccer franchise valued at $530 million. He holds an option to purchase an additional 5% of the team too.