Kobe Bryant approached sports media veteran Darren Rovell at a media day event with an unusual proposal: he wanted Rovell to interview him on business matters once a year, and he was interested in exploring potential business ventures together. Rovell was taken aback by the request, but the two eventually formed an unconventional business partnership.
According to Rovell, Kobe was a relentless and intense individual who applied the same level of focus and competitiveness to business as he did to his basketball career. Rovell recalled that Kobe would often engage in late-night text exchanges, even when Rovell was asleep. He described Kobe's mental state as "the same cycling brain, same everything" that drove his on-court success.
Their business partnership was put to the test in 2012 when Rovell pitched a potential investment in KRAVE Beef Jerky. He recommended that Kobe buy a 10% stake in the company for $8 million at an $80 million valuation. However, Kobe's financial advisor talked him out of the deal, and six months later, Hershey acquired KRAVE for $291 million. The missed opportunity cost Kobe a significant $23 million payday.
Instead of being discouraged, Kobe took the setback as an opportunity to learn from Rovell's business acumen. He offered Rovell a blank check of $10 million with no strings attached, and this investment ultimately led to a massive return when Coca-Cola acquired BodyArmor, a sports drink startup in which Kobe had invested. The deal netted Kobe an astonishing $444 million profit, cementing his reputation as a savvy venture capital investor.
NTC Report coverage is based on reporting from the original publisher.
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