Stephen Curry is laying the groundwork for his post-NBA life by investing in Tech Companies
Great offense creates exciting games, no matter the sport. Touchdowns, threes, goals, you name it, fans love to see it. Players are offensive wizards when they can see the next play. Whether it's Diana Taurasi double-clutching mid-air for a layup or Patrick Mahomes throwing a no-look dagger through the defense for a touchdown, greatness is determined by knowing what's next.
What fans, and some players, don't like to think about is the next play past the four lines. What happens when you lose the fight to Father Time? That is the play that the renowned Chef Stephen Curry is looking to.
From donating a lucrative amount of money to start up Howard University's golf program to launching his Eat. Learn. Play. Foundation-- tackling childhood hunger and nutrition, closing the college education gap, and ensuring kids have an opportunity to develop through play in the Oakland community-- to producing and hosting his very own summer game show Holey Moley, Curry, naturally, is a busy body.
Curry recently sat on a panel for Disrupt SF to discuss his investments in tech startups-- specifically his investment in SnapTravel.
"It's about opportunity," Curry said. "At first it started as pure intrigue. You want to get your feet wet and learn. We have a history of a startup of our own, so being on that side then being on this side-- from an investment standpoint. Right now, being in the NBA, that is a short period of my life: from 21, and hopefully, I can play another six years. So you want to think about what you want to do for the rest of your life. Hopefully, we're setting up the groundwork and the framework for success in this space."
The company itself is a half-bot, half-human hotel booking service that can secure some of the lowest negotiated hotel deals, and it sends them right to your Facebook Messenger inbox.
SnapTravel co-founder Hussein Fazal, who happens to be a Toronto Raptors fan, spearheaded the company and is now reaping the benefits.
"Since we launched two years ago, we've booked over a million nights and now have well over $100 million in sales. We have grown 300% year over year and are projected to get to a billion in sales by the end of 2021, putting us in the category of one of the fastest-growing travel companies in the world," Fazal told Martine Paris of Forbes.
The company is booming and having Stephen Curry, arguably one of the most recognized current athletes in the world, fund the company, show off SnapTravel swag at the NBA Finals, tweet about the company to his 13.7 million Twitter followers, and sit on stage at Disrupt SF--one of the most popular tech startup events of the year-- helps.
SnapTravel isn't Curry's first tech rodeo. The NBA superstar has invested in eight total tech companies which include: Guild Education, a mission-based company providing opportunities for America's workforce through education, Palm, which is trying to revive itself with a standalone smartphone; and Team Solomid, the formidable esports organization.
Curry also spearheaded his startup SC30 Inc., along with President of the company and long time friend Bryant Barr. SC30 Inc. manages Curry’s investments, brand partnerships, philanthropic ventures, and his company Slyce that he co-founded with Barr in 2015. Slyce sets out to help brands publish content and reach their intended audiences.
In short, Curry is doing a lot off the court, but it is needed. In 2009, Sports Illustrated reported that 78% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement, and an estimated 60% of National Basketball Association (NBA) players go bankrupt within five years after leaving their sport.
Now, Curry has a rather large contract with the Warriors, along with a wife who is business savvy in her own right, so the idea of him falling into that category is highly unlikely-- but it goes without saying that life after basketball doesn't come easy.
Just like on the court, you have to put in the work to be successful once you can't move in the four lines. Curry shows that determination to work on and off the court, whether he's the last guy in the Chase Center getting up shots, or investing in yet another startup.
More importantly, Curry is showing the future Stephen Curry, the future 'he's ruining the game' player, the kid who dreams of being where he currently is that there is more than being an athlete. That is important.
Every kid on the blacktop wants to be a baller, and that usually entails having a basketball or football. What those kids don't see is the afterlife. They don't see the work that goes in after your career is done. Most don't even realize that basketball is just an era. Curry using his platform to create that dialogue with his millions of fans is big-- not only for the basketball world but for the little girls and boys who look up to him as well as the culture of athletics.