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Kobe Bryant: that's how basketball reacted to his death 1:23
New York (CNN Business) - Kobe Bryant's legacy extends beyond his time on the basketball court. He was also known in the business world as a brand creator, investor and a guide for other athletes and company founders.
Bryant died Sunday in a helicopter crash in Calabasas, California, at the age of 41.
"For 20 seasons, Kobe showed us what is possible when a remarkable talent is mixed with an absolute devotion to win," NBA commissioner Adam Silver said in a statement Sunday. "He was generous with the wisdom he acquired and saw how his mission shared it with future generations of players."
Kobe Bryant
Beyond the court
Bryant diversified his career by entering the world of investments even before leaving the NBA. In 2013, he co-founded venture capital firm Bryant Stibel along with Web.com founder Jeff Stibel.
When creating the company, Bryant followed the model of a select number of sports legends that have been able to transform the skills developed on the field into commercial success. The owner of the NBA Hall of Fame Earvin "Magic" Johnson was one of the first in 1987, when he founded the investment firm Magic Johnson Enterprises, which invested in several major businesses, including Starbucks and LaGuardia New York Airport .
Bryant's firm now has more than $ 2 billion in assets, with investments in dozens of technology, media and data companies. Bryant Stibel claims at least 10 successful departures, including Dell and Alibaba. He also has investments in the creator of Fortnite, Epic Games, the digital payment company Klarna and the home products firm The Honest Company.
"You must have strong businessmen, really the key for us is to look at people," Bryant said in an interview with CNBC in September. “Yes, it is important to see those returns, right? But it is also important to have a great opportunity, excellent relationships with our investors, great opportunities with our entrepreneurs to help them grow and put them in situations where they can succeed. ”
Apart from the firm, Bryant also earned millions of dollars with his investment in the Body Armor sports drink, which in 2018 increased its valuation by selling a stake to Coca Cola.
Bryant's reputation as a star athlete and brand creator has been one of the keys to the portfolio's success.
“When Kobe puts his stamp of approval on something and really supports you as a partner, the world of sports and all those who are part of the spectrum of the sports industry take notice and suddenly you are validated in a way that most new companies simply do not experience until much later, ”said the founders of the skincare brand Art of Sport, Brian Lee and Matthias Metternich, in a statement on the development of the company published before Sunday on the website of Bryant Stibel
Other athletes have noted Bryant's experience as an investor.
"I think Kobe is someone who has been super fun to take some ideas," Olympic swimmer Michael Phelps told The Wall Street Journal in August. “We have had the privilege and opportunity in our sports to succeed and reach the pinnacle and we know what it takes to reach that higher level. So now, it is always the challenge for athletes to find that momentum outside of sport. ”
In 2016, Bryant founded Granity Studios, a media company that focuses on telling creative stories about sports.
Through this company, the basketball star wrote and narrated a short film called "Dear Basketball," which won the Academy Award for best animated short film in 2018. Granity has also released a set of books for young adults, along with Bryant's autobiography, "The Mamba Mentality: How I Play."
This is how the Black Mamba brand was built
Bryant, known in basketball as "Black Mamba," began building his brand as an athlete at the beginning of his career with the sponsorship of Nike.
Bryant signed an agreement with Nike for the first time in 2003. He was one of an elite group of NBA players who signed with the brand that year, including LeBron James and Carmelo Anthony. That helped the shoe company consolidate its position in the world of basketball for the next two decades after Michael Jordan's retirement in 2003.
As Bryant's success on the court grew, so did his association with Nike. The brand launched multiple lines of shoes and equipment from Kobe. In 2017, the company took Bryant to the stage with then CEO Mark Parker at its annual investor meeting to celebrate the launch of Nike's new business strategy.
Nike partnered with Bryant and the Los Angeles Boys and Girls Club to launch a youth basketball league, called Mamba League, in 2017, to give hundreds of children free access to the sport. Later, Bryant created the Mamba Sports Academy to provide more comprehensive athletic and lifestyle training to competitors at all levels in various sports.
Bryant was heading to a game at the Mamba Sports Academy on Sunday when the helicopter crashed.
“We are devastated by the tragic news of today. We extend our deepest condolences to the people closest to Kobe, especially to his family and friends, ”Nike said in a statement on Sunday. “He was one of the best athletes of his generation and has had an immeasurable impact on the world of sports and the basketball community. He was a beloved member of the Nike family. We will miss him a lot. Mamba forever. ”
Nike celebrated a "Mamba Day" to honor the retirement of the famous but controversial athlete in 2016. Nike stayed with Bryant even after he was charged, in late 2003, with sexual assault against a 19-year-old woman. The case was dropped a year later after the woman refused to testify, and Bryant apologized for his behavior, although he always maintained that the interaction was agreed and had not violated the law.
Bryant has also been involved in the NBA's efforts to expand its audience beyond the United States, particularly in China. In 2015, he worked with Alibaba Group to release the documentary of basketball star “Kobe Bryant's Muse” through his Tmall Magic Box TV in China.
The agreement also involved working with Bryant to create a new social media platform "that brings new avenues to connect Chinese youth directly with Kobe and his philosophies," according to an Alibaba press release announcing the association. In addition, the company sells a series of Kobe brand products on its retail platform.
Bryant also had sponsorship agreements with several other brands throughout his career, including McDonald's, Sprite, Nintendo and Turkish Airlines.
Kobe Bryant