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Usain Bolt among star investors in online sporting event company

Sprint legend Usain Bolt is among a number of investors in online sporting event company, Let’s Do This.

Eight-time Olympic champion, Usain Bolt

The eight-time Olympic gold medallist was listed as a seed investor in Let’s Do This, along with tennis star Serena Williams and long-distance runner, Paula Radcliffe as the company looks to expand its digital operations, according to CNBC.

The San Francisco and London-based company completed a US$15 million of investing this week.

Let’s Do This hopes to have 45 million users by 2025.

Two months ago, the sports stars participated in the seed round of financing which raised US$5 million for the company, which has not shared its valuation from either rounds of funding.

In an interview with CNBC, co-founder Sam Browne said doubled and, at times, tripled its growth “every quarter”.

The company links people to endurance events and makes money by charging a percentage of total ticket prices to race directors.

Serena Williams is also an investor in the online sporting event company.
(Photo: WTA Tennis)

Let’s Do This employs 36 people and said it hopes to have 45 million users by 2025.

Roughly 25 per cent of revenues come from events in the US, which Browne said could grow to 85 per cent next year.

Since his retirement from athletics in 2017, Bolt has been linked to numerous commercial and philanthropic projects. One such venture is a large multi-storey building in Jamaica’s Corporate Area for which he has provided little information beyond confirming his involvement in the development.

Bolt received the International Humanitarian Award from the American Friends of Jamaica in New York last month. (Photo: businessinsider.com)

The multiple world record-holder also received the 2019 International Humanitarian Award from the American Friends of Jamaica, along with Jamaican businessman Glen Christian, in New York last month.

The award was presented to Bolt and Christian for their philanthropic work and contribution to Jamaica’s economic development.