Steve Smith invested $100,000 in mattress startup

Steve smith

Back in 2015, Australia cricketer Steve Smith invested $100,000 in a local start-up mattress startup called Koala. According to recent valuation, Smith’s stake is now estimated at 12.118 million.

Business Insider Australia reports more on the development. The mattress startup Koala is currently worth of 150 million. Because of the investment, Steve Smith became the brand ambassador of the startup. After four years, Koala has managed to amass some 200,000 customers and in July was valued at around 150 million. The success makes Smith’s stake now worth an astounding 12.18 million, pushing his net worth up to 31 million, as estimated by the AFR.

That’s up from 27 million in 2018, despite the ball-tempering scandal costing Smith his captaincy, as well as an estimated 5 million in earning last year.

Source: Business Insider Australia




Jayita Sardar

Aspiring journalist working for sportzbusiness.com and exploring the juncture of sports, business and technology. Interested in sports economy and logistics of sports policy-making.

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