Chrono24, the world’s leading online marketplace for luxury watches, has announced that internationally acclaimed footballer, Cristiano Ronaldo, through CR7 SA, has become an investor in the company. CR7, as he is known in the sporting world, is perhaps just as well known among the watch community as an avid collector of premium timepieces.
Ronaldo joins Chrono24 investors including Bernard Arnault’s family investment company, Aglaé Ventures, General Atlantic, Insight Partners and Sprints Capital – who together led Chrono24’s Series C round in August 2021, worth $118M (€100M) – cementing the watch marketplace’s unicorn status with a current valuation exceeding $1B.
According to Forbes’ recent report on the highest paid athletes of 2023, Ronaldo pulled in $136 million last year alone from his contracts and endorsements – a new record for a soccer player. He was also recognized as the most marketable athlete of 2022 by SportsPro.
“As a long-term watch collector and regular user of Chrono24, it’s a pleasure for me to become a shareholder in the company. Chrono24 unites millions of watch lovers from around the world to share their passion – that global unification is something I know well and am thrilled to be a part of,” Ronaldo says.
“No one brings passion for luxury watches to the world stage quite like Cristiano,” Chrono24 CEO Tim Stracke says. “He has already solidified his place as one of the greatest athletes in history, and as an investor shows astute knowledge of world-class luxury and technology. That coupled with his authentic, proven passion for watch collecting makes him the perfect teammate as our company moves further into global expansion and our next chapter.”
Since the company’s establishment in 2003, Chrono24 has pioneered the digital marketplace space. A known disruptor in the luxury watch world, Chrono24 has forever changed the way people shop for luxury watches, offering accessibility, transparency, and connectivity to enthusiasts that spans the entire world.
Chrono24 is led by its founder and co-CEO Tim Stracke and co-CEO (and former TeamViewer CEO) Holger Felgner; a majority of existing shareholders co-invested alongside the new group of investors. The CR7 SA investment follows Chrono24’s aforementioned Series C round, as well as its 2019 Series B financing of €43M ($47M) from Sprints Capital, former Richemont director Gianni Serazzi, and YOOX-NET-A-PORTER founder Alberto Grignolo, among others, as well as the company’s €37M ($40M) Series A from Insight Partners in 2015.
“Chrono24 – The World’s Watch Market” has been a leading global online marketplace for luxury watches since 2003. With over 500,000 watches from over 3,000 dealers and 30,000 private sellers in more than 100 countries, the portal reaches more than nine million unique visitors per month. Chrono24’s large combined global offering of new, pre-owned, and vintage watches offers a comprehensive service portfolio that enables buyers and sellers to complete their transactions in a trusted environment. Chrono24 employs more than 500 people in its offices in Germany (Karlsruhe and Berlin), New York, Miami, Tokyo, and other locations.
Ronaldo, 38, plays as a forward for Al Nassr FC and captains Portugal’s national team. He has amassed 5 Ballon d’Or awards, 4 European Golden Shoes, 32 trophies, 7 league titles, 5 UEFA Champions Leagues, 1 UEFA European Championship, and 1 UEFA Nations League – not to mention 140 goals and 42 assists in the Champions League and a record of 835 goals scored for club and country. CR7 has an awe-worthy Instagram following of more than 593M, where watch-spotting enthusiasts clamor to view the sporting legend’s show-stopping collection.
Copyright © 2023 California Business Journal. All Rights Reserved.
Related Posts
