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Cristiano Ronaldo Is Now an Investor in This Watch Seller
The company is valued at more than $1 billion.
Chrono24 announced that soccer star Cristiano Ronaldo is now an investor in the company. Here, Ronaldo, right, is pictured with Chrono24 co-CEO Tim Stracke. (Image courtesy of Chrono 24)
Karlsruhe, Germany—Chrono24 has inked a deal with one of the world’s most famous athletes, but not as a brand ambassador.
The online luxury watch seller announced this week that Cristiano Ronaldo is now an investor in the company.
According to the Forbes “Highest Paid Athletes of 2023” report, Ronaldo ranks No. 1, earning $136 million last year from his contracts with the United Kingdom’s Manchester United, Saudi Arabia’s Al Nassr, and endorsements.
It’s the most a soccer player has earned, Chrono24 noted.
Ronaldo has a personal interest in wristwatches and invested in Chrono24 via his company, CR7 SA.
“As a long-term watch collector and regular user of Chrono24, it’s a pleasure for me to become a shareholder in the company now,” Ronaldo said in a statement.
“Chrono24 unites millions of watch lovers from all around the world to share in their passion, together—that global unification is something I know well and am thrilled to be a part of.”
“No one brings passion for luxury watches to the world stage quite like Cristiano,” said Chrono24 founder and co-CEO Tim Stracke.
“He has already solidified his place as one of the greatest athletes in history, and as an investor shows astute knowledge of world-class luxury and technology. That, coupled with his authentic, proven passion for watch collecting, makes him the perfect teammate as our company moves further into global expansion and our next chapter.”
Founded in 2003, today Chrono24’s valuation is more than $1 billion, the company said.
Previous investors include LVMH CEO Bernard Arnault’s family investment company, Aglae Ventures; General Atlantic; Insight Partners; and Springs Capital.
These companies were the top investors in Chrono24’s C round of financing in August 2021, for a total $118 million.
Sprints Capital, former Richemont director Gianni Serazzi, and Yoox-Net-a-Porter founder Alberto Grignolo were some of the leaders of Chrono24’s Series B financing in 2019, which raised €43 million.
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