Novig's $2 billion valuation comes just weeks after her controversial ad campaign.
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Novig reportedly raised funding at a $2 billion valuation, four times its earlier $500 million valuation.
Sydney Sweeney is an equity partner, while crypto investors Pantera Capital and Multicoin Capital backed its February funding round.
The reported valuation follows its controversial advertising campaign.
Sydney Sweeney’s nude advertising campaign put Novig at the center of a debate over celebrity marketing and sports betting.
Three weeks later, the prediction-market operator reportedly has a $2 billion valuation.
The Wall Street Journal reported on Sept. 30, citing people familiar with the matter, that Novig had raised fresh funding at four times its earlier $500 million valuation.
The development adds a financial dimension to the campaign backlash previously covered by CCN, which examined criticism of Sweeney’s ads and the growing celebrity push into prediction markets.
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The reported valuation jump comes weeks after Sweeney’s campaign drew criticism from athletes who accused it of sexualizing women’s sport.
As CCN previously reported, four-time Olympic swimming champion Ariarne Titmus called the campaign “an absolute joke.”
Meanwhile, gymnast Gracie Kramer responded with a video showcasing her athletic ability, declaring:
“This is what a woman in sport looks like.”
Novig reportedly quadrupled to a $2 billion valuation weeks after Sydney Sweeney’s nude ad sparked fury among Olympic athletes.
Australian water polo silver medallist Tilly Kearns and boxer Skye Nicolson also criticized the campaign. Nicolson nevertheless acknowledged that the outrage was giving Novig “exactly what they wanted.”
The original advertisement had attracted more than 33 million Instagram views by mid-September, according to ABC News.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
