Sports Illustrated/NYCIF Invests Undisclosed Amount Into TAKKLE
When TAKKLE first came out, I thought to myself, “would a high school sports social network really take off?” Every time I hear more news about TAKKLE, my question gets answered (which happens frequently these days). The answer is yes. High school sports is a national craze and I should have known this, especially after watching movies like Varsity Blues starring the guy from Dawson’s Creek.
I read an article tonight on alarm:clock about the social network receiving an investment from Sports Illustrated and as I investigated more, I found that were other investors in the company as well:
Investors in TAKKLE include:
1.) Sports Illustrated (SI.com): This publication is dubbed as the “biggest weekly American sports magazine” according to Wikipedia. The publication has over 3 million subscribers and 23 million adults read the magazine each week. The company is owned by Time Warner.
2.) New York City Investment Fund (NYCIF): is a company that was founded by Henry R. Kravis. Kravis is known as the 107th most richest person in the world and for founding Kohlberg Kravis Roberts & Co. (KKR). KKR registered to go public on July 3rd according to Hoovers. Ironically, I was reading a book about KKR’s involvement with RJR Reynolds and Nabisco in the book, Barbarians at the Gate earlier today.
3.) WMG Investments: Finance arm of Wasserman Media Group, LLC (WMG). WMG is a sports marketing company that was started by Casey Wasserman. Wasserman graduated from UCLA with a major in Political Science and is now also an owner of the Los Angeles Avengers football team.
4.) Greycroft Partners, LLC: A $75 million powered company founded by Alan Patricof. Patricof completed a BA from Ohio State University and an MBA from Carnegie Mellon and is a board member of New York Small Business Venture Fund and New Jobs for New York Association. Greycroft has also invested in PaidContent (technology news blog), Pump Audio (hub for independent artists to sell music), and Ladies Who Launch (social network for entrepreneurial women).
5.) IJ Smith Enterprises LLC
6.) Jack Schneider, Managing Director, Allen & Company
Through the investment by Sports Illustrated, a partnership has been solidified. Sports Illustrated agreed to bring about sponsorship programs for TAKKLE endorsed by companies such as Gatorade and Finish Line. TAKKLE also made a deal with Spalding for a three-on-three basketball competition.
Previous Pulse 2.0 TAKKLE coverage is available at: http://pulse2.com/category/takkle-inc/@amitchowdhry or on Google+ at +AmitChowdhry