The Players' Tribune, the website Derek Jeter founded to give athletes an unfiltered content platform, yesterday announced that it has raised $40 million in new venture capital funding. Axios has since learned that the deal was done at a $100 million pre-money valuation, which is around ten times 2016 revenue.

Institutional Venture Partners led the round, and was joined by GV (f.k.a. Google Ventures) and existing shareholder New Enterprise Associates. Proceeds are expected to boost both sales and video production efforts.

Jeter is listed as the New York-based company's founding publisher and sits on its board of directors. Company president Jaymee Messler previously was chief marketing officer of sports agency Excel Sports Management.

Go deeper

Updated 11 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 21,295,429 — Total deaths: 767,714— Total recoveries: 13,295,750Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 5,345,610 — Total deaths: 169,146 — Total recoveries: 1,796,326 — Total tests: 65,676,624Map.
  3. Health: The coronavirus-connected heart ailment that could lead to sudden death in athletes — Patients grow more open with their health data during pandemic — FDA issues emergency use authorization for Yale's saliva coronavirus test.
  4. Education: "Historic" laptop demand leads to shortages ahead of remote school — Why learning pods aren't a panacea for remote learning — The COVID-19 learning cliff.
  5. States: New York to reopen gyms, bowling alleys, museums.
  6. Podcasts: The rise of learning podsSpecial ed under pressure — Not enough laptops — The loss of learning.

The COVID-19 learning cliff

Illustration: Aïda Amer/Axios

Perhaps the most jarring reality of the COVID-19 pandemic for families has been the sudden and dramatic disruption to all levels of education, which is expected to have deep social and economic repercussions for years — if not decades — to come.

Why it matters: As millions of students are about to start the school year virtually, at least in part, experts fear students may fall off an educational cliff — missing key academic milestones, falling behind grade level and in some cases dropping out of the educational system altogether.

Postal slowdown threatens election breakdown

In 24 hours, signs of a pre-election postal slowdown have moved from the shadows to the spotlight, with evidence emerging all over the country that this isn't a just a potential threat, but is happening before our eyes.

Why it matters: If you're the Trump administration, and you're in charge of the federal government, remember that a Pew poll published in April found the Postal Service was viewed favorably by 91% of Americans.