Oliver Johnson
It all started with YouTube video of several young men hitting absurdly difficult shots on a backyard basketball hoop. Some 15 years later, these friends – now with more than 60 million subscribers on the platform and known as Dude Perfect – can celebrate an investment ranging from $100 million to $300 million from one of the world’s leading private investment firms. country.
Highmount Capital said Tuesday it is investing “9 figures” in Dude Perfect, an online content creator formed in 2009 by five friends who met at Texas A&M. Over that time, the Frisco, Texas-based startup — led by twins Cory and Coby Cotton, Garrett Hilbert, Cody Jones and Tyler Toney — has become a branding and social media powerhouse with more than two dozen employees.
Dude Perfect is a “media juggernaut at the intersection of sports and comedy” whose videos attract billions of views, said Highmount Capital CEO Jason Illian he said in a post. The company did not disclose further financial details about the investment, but Illian said the capital will be used in part to expand Dude Perfect’s management team.
Stephen Lovekin/FilmMagic for YouTube
“The world’s top athletes, celebrities and sponsors want to work with Dude Perfect because of its breadth and reach, as well as its commitment to family values and content,” Illian wrote. “The Dudes have built a truly special brand and we believe they are just getting started.”
Dude Perfect, who did not immediately respond to a request for comment, has steadily grown his YouTube audience with a mix of irreverent and increasingly elaborate videos. Recent entries include throwing a rocket-propelled football, hitting the world’s longest shot, and poking fun at office life.
Perfect guy too holds more than 20 Guinness World Records, including the longest basketball shot, the longest barefoot walk on Legos, and the most ping pong balls stuck to a person’s head using shaving cream. As the company’s popularity grew, external participants in the content included actor Zac Efron, professional basketball player Luka Dončić and football stars from England’s top flight.
The “creator economy,” or people with individual brands that flourish on YouTube, TikTok and other online platforms, is now valued at $250 billion and is expected to reach $480 billion by 2027, according to 2023. to look for from Goldman Sachs. Investment banking analysts estimate that there are 50 million online content creators worldwide, although only about 4% of them do so professionally and earn more than $100,000 a year.
Content posted and monetized on YouTube has injected $35 billion into the U.S. economy and supported nearly 400,000 full-time jobs, according to 2021 data from Oxford Economics.
Editor’s note: Due to an editing error, the initial version of this story incorrectly said that venture capital firm Highland Capital was investing in Dude Perfect. In fact, the investment is from Highmount Capital, a private investment company.
