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Meet The Under 3o Entrepreneur Who Just Raised $80 Million For His Sports Media Startup

Apr. 30, 2021
Meet The Under 3o Entrepreneur Who Just Raised $80 Million For His Sports Media Startup

In 2016, Zack Weiner worked for the digital team at talent agency WME, when he was introduced to senior agent at the company named Dan Porter through a mutual friend. It was ‘kismet’, as Weiner calls it.

“That same night when we met, we must have exchanged over 50 emails,” Weiner says. “I’m reading the stuff that this guy older than me is sending me and I’m like ‘wow, this guy knows what’s up,’ and he must have been thinking ‘wow this young guy knows what’s up’.”

Fast forward five years, and the two are cofounders of Overtime, one of the largest and most social platforms savvy sports media brands, which just raised an $80 million Series C round from investors including Jeff Bezos, Drake, Alexis Ohanian, NBA stars Klay Thompson, Pau Gasol and others.

“We figured out that young people love sports but wanna consume it in a different way, they don't have the same affinity for legacy media networks, and they were looking for a community that felt like it was theirs,” Weiner, who made the 2018 Under 30 Sports list, says. “We believed that there was that big missing hole in the sports ecosystem.”

Overtime creates original programming where its audience is already interacting: on TikTok, Instagram YouTube, Snapchat, and the likes. While it covers many sports, it is primarily focused on basketball, followed by football, soccer, as well as some online gaming content. The company primarily produces three types of content: short-form, medium, and long-form. A lot of the shortest videos it produces from professional athletes, up and coming next generation stars, who record the highlights, send those to Overtime, and are then released as 15-20 second clips. The layer above that are shows like of about 4 minutes each day, and the longest ones are 12-20 minute episodic series.

The company recently announced a basketball league for high school-aged athletes, called Overtime Elite (OTE), which would offer six-figure salaries and health insurance to the players (who would skip high school and college).

Overtime makes money through advertising and ecommerce merchandise to its consumer base, which currently counts 50 million across all channels, who generate 1.7 billion views per month. The company’s revenues have doubled compared to last year.

Prior to cofounding Weiner, a Penn student at the time started a company called Sports Quotient, which was a sports blog where he and his cofounders wrote about sports. Within one year they had 100 writers, and after two years they grew to 200 writers. Following graduation he worked on Wall Street for under a year, and ended up at talent agency WME. Porter, his cofounder, had a vast array of previous experiences, ranging from President of Teach for America, GM for Zynga Mobile and head of WME digital.

The Brooklyn-based Overtime, which currently counts 130 employees, had previously raised a $2.5 million seed round in 2017, a $9.5 million Series A in 2018, and a $23 million Series B the year after.


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