When Canadian rapper and singer Aubrey Drake Graham entered the esports business in 2018, Los Angeles-based company 100 Thieves was worth about $90 million. But just after that, in about three years, American lifestyle brand and gaming organization's value rose to $460 million.
The God's Plan rapper joined 100 Thieves as a co-owner in October 2018, alongside Scooter Braun, after the company’s Series A funding round, as per a report. While the exact amount Drake invested was not disclosed. Founder Matthew “Nadeshot” Haag and Dan Gilbert were also part of the ownership group.
Drake joins 100 Thieves as co-owner in 2018
Drake and Braun co-led 100 Thieves’ Series A funding round in October 2018 and became co-owners of the company. At the time, 100 Thieves said the two would also serve as strategic advisers, while Braun would join its board.
The move came as esports organizations were attracting investment from figures outside traditional gaming. But the valuation attached to 100 Thieves would soon rise sharply.
100 Thieves valuation was $90 million when Drake joined
The $90 million figure comes from TechCrunch’s reporting on the company’s funding round in October 2018.
In July 2019, 100 Thieves raised $35 million in Series B funding. Founder and CEO Matthew “Nadeshot” Haag told TechCrunch that the round valued the organization at $160 million, compared with $90 million in October 2018.
That put the company at a post-funding valuation at $160 million less than a year after the Hotline Bling singer joined its ownership group.
100 Thieves reaches $460 million valuation in 2021
The bigger jump came in December 2021.
100 Thieves raised $60 million in Series C funding at a $460 million valuation, as per a Forbes report. The publication said the new valuation was up from the $160 million post-money valuation following the company’s Series B round.
By then, 100 Thieves had developed beyond its esports teams, with the business also spanning content creation and apparel, according to Forbes.
Drake still listed as 100 Thieves owner in 2022
The One Dance singer was still listed among 100 Thieves’ principal owners in Forbes’ 2022 ranking of the most valuable esports companies.
Forbes valued the company at $460 million and listed Drake alongside Haag, Braun and Gilbert among its principal owners.
However, that does not mean Drake’s personal investment grew from $90 million to $460 million. Those figures are valuations for 100 Thieves as a company, and the amount Drake invested or the value of his individual stake has not been disclosed in reports.
