Dude Perfect dreams big after $100 million funding haul
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Dude Perfect CEO Andrew Yaffe. Photo: Courtesy of Sam Popp on behalf of Axios
Dude Perfect will invest more in toys, gaming, new content around women's sports and live events, newly named CEO Andrew Yaffe said at Axios' BFD event alongside co-founder Coby Cotton.
Why it matters: The sports and comedy brand, best known on YouTube, is gearing up for a big expansion after raising more than $100 million.
What they're saying: "We have needed a CEO for a while now," Cotton told Axios' Sara Fischer in New York on Tuesday. "We have had a lot of dreams, and I will say the five of us have been a bottleneck for that at times."
- "We knew that we needed to build the right team to go tackle some of the biggest things that we've really been dreaming about," Cotton said.
- "I think there are a lot of big opportunities that sometimes creators shy away from because they don't have the capital or they don't want to take the risk on a new area that might not have been successful previously," Yaffe said.
- "These guys have an amazing connection to their audience," Yaffe added. "There's no reason that shouldn't apply in other areas like gaming and toys and live experiences, and so now that we have the security, we can take risks in all those areas."
Catch up quick: Dude Perfect got its start in April 2009 when five roommates at Texas A&M University began making YouTube videos featuring basketball trick shots and other stunts. The YouTube channel now has more than 60 million subscribers.
- Yaffe was named CEO earlier this month. He previously worked at the NBA, most recently as executive vice president, head of social, digital and original content. His hiring came after Dude Perfect closed its first raise.
What's next: Yaffe said Dude Perfect is launching a new category of toys with Walmart on Black Friday.
- Dude Perfect also is looking into more games after a previous iPhone game scored 50 million downloads.
- "The idea of being able to bring a gigantic audience of 8- to 16-year-old boys and girls who love sports and love competition and love fun to the gaming audience is really meaningful and really valuable," Yaffe said.
- Yaffe also said the team has several "women's sports concepts on the drawing board" and noted his time spent with the WNBA and the junior WNBA while working at the NBA.
- Dude Perfect is going on a tour in the U.S. and Europe next year.
The bottom line: "We want to be the most trusted name in entertainment," Cotton said. "We want families to be able to really put their stake on whatever Dude Perfect is putting in front of them."
