When Alexis Ohanian, the co-founder of Reddit and early-stage investor in some of the world’s biggest startups, began backing women’s sports years ago, he was mocked relentlessly online. Commenters called it “a passion project,” “charity investing,” or “a nice gesture for his wife.”
Now, as the teams and leagues he bet on surge in value and profitability, Ohanian is not just proving his critics wrong — he’s keeping score.
“I kept all the receipts,” Ohanian said recently. “Every time we hit another revenue milestone, I tag them and thank them for the motivation.”
It’s a mix of humor and vindication — a declaration that the era of underestimating women’s sports is officially over.
From Reddit to Rebellion: Ohanian’s Second Act
After co-founding Reddit in 2005 and later exiting the company with life-changing wealth, Ohanian could have retired into quiet luxury. Instead, he began building a legacy that combined his entrepreneurial instincts with a cause he cared about: equality in sports and investment.
Through his venture fund, Seven Seven Six, Ohanian started making aggressive bets on women’s sports teams, leagues, and media companies at a time when few investors saw commercial potential.
His most famous move came in 2020, when he became a founding investor in Angel City FC, the Los Angeles-based women’s soccer team co-owned by celebrities like Natalie Portman, Serena Williams, and Jessica Chastain. The team’s valuation — once dismissed as overly optimistic — has since skyrocketed, reportedly crossing $200 million in 2025.
Ohanian has also invested in the National Women’s Soccer League (NWSL), the Women’s Tennis Association (WTA), and a growing portfolio of startups focused on female athletes, digital fan engagement, and sports media platforms.
“They Laughed. Now They’re Calling.”
“When I first started investing in women’s sports, people thought I’d lost my mind,” Ohanian told an audience at a recent sports innovation summit. “I had VCs and founders telling me flat-out that the numbers didn’t make sense. Today, those same people are asking how they can get in.”
The shift is dramatic — and data-driven. Women’s sports are now one of the fastest-growing sectors in global entertainment. Sponsorships are surging, media rights deals are multiplying, and attendance records are being shattered across soccer, basketball, tennis, and beyond.
According to recent estimates, the global women’s sports industry could surpass $25 billion in annual revenue by 2030, up from roughly $2 billion in 2021.
Angel City FC alone has attracted corporate sponsors like DoorDash, Heineken, and Nike, generating both profitability and social impact.
“People finally see that women’s sports aren’t a charity — they’re a business,” Ohanian said. “And it’s only getting started.”
Turning Trolls Into Motivation
Ohanian’s use of social media as both a platform and a scoreboard is vintage Silicon Valley. He doesn’t shy away from confrontation — instead, he uses public skepticism as fuel.
“When I see people mock what I’m doing, I screenshot it,” he admitted. “It’s not about revenge; it’s about documentation. I want to look back and show my daughters — this is what people said wasn’t possible.”
His online responses have become something of a meme: every time one of his portfolio teams hits a financial milestone or breaks a record, Ohanian digs up old tweets from critics and tags them with a simple message — “Thanks for the motivation.”
It’s playful, but it also underscores a deeper cultural point: the dismissal of women’s sports has never been about data — it’s been about bias.
The Business Case for Women’s Sports
Behind Ohanian’s confidence lies a clear investment thesis: women’s sports are undervalued assets in a global market obsessed with new frontiers of growth.
Unlike men’s leagues — which have reached maturity in audience size, sponsorship saturation, and viewership distribution — women’s sports are still in early growth phases, offering outsized returns for those willing to bet early.
The demographic trends are equally compelling. Women’s sports attract younger, more diverse, and more digitally engaged audiences, making them ideal for brands looking to reach Gen Z consumers.
Ohanian compares it to the early days of eSports or social media platforms. “When you’re early in a movement that’s inevitable, it looks risky,” he said. “But in hindsight, it looks obvious.”
The Serena Factor
Ohanian’s advocacy for women’s empowerment in sports is also deeply personal. His wife, Serena Williams, is one of the most decorated athletes in history — and one who faced constant underestimation despite her dominance.
“I’ve seen firsthand how the system undervalues women athletes,” Ohanian said. “If Serena had been treated like a global entertainment franchise from day one, the business of sports would have evolved much faster.”
Together, the couple has championed equity initiatives, funded startups founded by women, and raised awareness about pay disparities and representation in sports governance.
Cultural Shift: From Niche to Mainstream
The success of Angel City FC and other women-led ventures is part of a larger cultural realignment.
Major media networks like ESPN, Amazon Prime Video, and DAZN are now dedicating significant airtime to women’s leagues. Streaming platforms are competing for exclusive rights. Nike, Adidas, and Puma are expanding sponsorships to women’s athletes and teams at record levels.
What was once niche is rapidly becoming mainstream.
“Every big cultural shift starts small — until the numbers force everyone to pay attention,” Ohanian said. “We’re at that tipping point now. The question is no longer if women’s sports will be big. It’s how big and how fast.”
Legacy and the Long Game
For Ohanian, this isn’t just about financial success — it’s about building infrastructure that will last.
He envisions a future where women’s sports leagues rival men’s in revenue, sponsorships, and global fanbases, supported by strong digital ecosystems and direct-to-fan media models.
“I want my daughters to grow up in a world where women athletes are household names, where the biggest endorsement deals go to whoever performs best — not whoever fits an old stereotype,” he said.
That mission is already reshaping the sports investment landscape, inspiring a new wave of funds, media startups, and female-led ownership groups.
From Ridicule to Revolution
When asked if he feels vindicated, Ohanian smiled. “A little,” he admitted. “But mostly, I’m excited. We’re just at the beginning of something massive.”
The trolls may have laughed once — but now they’re watching as Ohanian’s “risky” bets redefine an entire industry.
What was once seen as an emotional investment has turned into one of the smartest financial plays of the decade — and a cultural revolution that’s rewriting the rules of sports, business, and belief itself.
