NEW YORK, New York — Shawn “Jay-Z” Carter and his Roc Nation entertainment company have invested in Fanatics, the digital sports platform owned by close friend Michael Rubin.
According to Revolt, Shawn “Jay Z” Carter and Roc Nation joined the $325M funding round which also includes the MLB, SoftBank, Silver Lake, Eldridge, TWG Sports Media & Entertainment, and Insight Partners, bringing the value of Rubin’s company to $18 billion.
Rubin has transformed Fanatics, formerly an e-commerce company, into a global brand that is primarily a retailer of sports merchandise.
“We’ve realized we have this incredible opportunity but to really transition to a leading e-commerce company to building the leading digital sports platform,” Rubin said of Fanatics. “That means, as a sports fan, you go to Fanatics and get any sports product that’s important to you.”
Rubin said there are currently no immediate plans to go public.
“I think going public is an option for us that we talk about a lot, but it’s not something we’re focused on today,” said Rubin. “We’re focused on building a business. But I think we’re well-financed and have a lot of growth capital to continue to grow.”