Soccer superstar Cristiano Ronaldo pumps money into luxury watch resale marketplace Chrono24
"He likes the category, likes technology, and also thought this was financially a good opportunity," Stracke said.
Stracke declined to disclose the amount of the stake, citing an agreement with Ronaldo, but he said it was"significant" for the billion-dollar company, as well as for the athlete-turned-investor. "The money was not the reason for us to bring him on board," Stracke added, explaining that Ronaldo's well-documented love for watches and his tremendous global following put him at the top of his list of potential celebrity investors.
Before Ronaldo, the most recognizable name associated with Chrono24 was Bernard Arnault, whose family fund backs Aglae Ventures, which participated in Chrono24'sLuxury watch resale prices have declined for more than a year. Ronaldo is a longtime watch collector."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.
Ronaldo formerly played for Manchester United and now suits up for the Portuguese national team and a Saudi club, Al Nassr.
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