“I love it when people doubt me. It makes me work harder to prove them wrong.” - Derek Jeter, 2015
I am excited to announce our investment in The Players’ Tribune, an innovative new media company founded by Derek Jeter. NEA has a longstanding history of working with accomplished entrepreneurs, but few with a career as celebrated as Derek’s, which includes 5 World Series titles and 14 All-Star appearances. Derek is known not only for his commitment to excellence and incredible work ethic, but also for his humility and integrity both on and off the field. Upon retirement from baseball, Derek has found a new mission in The Players’ Tribune, and hopes to ultimately transform and re-invent the way that athletes connect with fans. In a very short period of time he has attracted over 100 of the most influential athletes to participate, and has recruited a world-class executive team to join him.
The tectonic plates of the $40 billion sports media industry have been shifting for years due to the rapid adoption of mobile devices, the rising popularity of over the top (OTT) content services, and the widespread use of social media. These technology waves have made it possible for new media companies such as The Players’ Tribune to work directly with athletes to create unique and compelling content that can reach millions of fans around the world. Derek’s vision is to have The Players’ Tribune provide authentic editorial and live interactive experiences, leveraging the most modern and disruptive technology available. For example, The Players’ Tribune recently partnered with video conferencing pioneer Blue Jeans Network, another NEA portfolio company, to enable individual athletes to communicate with over 10,000 fans using interactive 2-way video. This is just one of many ways that The Players’ Tribune is transforming the relationship between athletes and fans – stay tuned as there is much more to come!
The great entrepreneurs that NEA has backed throughout our 37 year history share a few common traits: (i) they are passionate about their mission and vision, (ii) they are fearless and competitive, (iii) they move with speed and agility, and (iv) they attract great talent and build amazing teams. It is fair to say that Derek has already embodied these characteristics throughout his life – and though some may ask whether he can have as successful a career as an entrepreneur as he enjoyed in baseball, I personally don’t think you want to bet against him.