Serena Williams' husband Alexis Ohanian reveals 'pushback' against billion-dollar vision for women's sports amid $300M-worth Angel City FC's success

Serena Williams' husband and Reddit co-founder Alexis Ohanian illuminated the growing potential of women's sports at the recent Web Summit Qatar. His insights into Angel City FC's financial ascent, from a $1 million investment in 2020 to a staggering $300 million valuation in just 4.5 years, underscored his prediction that women's sports teams could reach $1 billion within five to six years.

Ohanian, a staunch advocate for gender's equality in sports, headlined the session "Why the Creator of Reddit's Next Big Bet is Women's Sports." In the session, the 41-year-old recounted the skepticism he encountered when he initially predicted a $1 billion valuation for a women's sports team.

Drawing a parallel to the early doubts about Bitcoin's viability as a store of value, he highlighted the resistance he faced from traditional investors.

"There's an amazing opportunity in women's professional sports and I'm gonna start by buying or beginning an NWSL team and one day I believe it can be worth a billion dollars. The amount of pushback I got for saying that a women's professional team could one day be worth a billion dollars looks so different from the response I got to saying that I believe Bitcoin could be a store of value," he said.

Ohanian's investment in Angel City FC, a National Women's Soccer League team, has paid off handsomely. His initial $1 million investment in 2020 has grown into the most valuable women's sports team globally, now worth nearly $300 million. Ohanian firmly believes that a women's team will soon hit the $1 billion mark, emphasizing that this is not charity but smart business.

"I spent one million dollars to buy that first franchise, Angel City FC. The team today is worth a little under 300 million dollars. It is the most valuable team in women's professional sports in the world. And it's been four and a half years. I think five to six years from now, we are going to see that milestone. I hope it's Angel City," Ohanian said.

"But don't get it twisted. None of this is about charity. None of this is about, oh, it feels good. Yes, it does feel good for sure. But at the end of the day, it's about good business. And I think that's the opportunity in front of us," he added.

Founded in 2020 by actress Natalie Portman, entrepreneur Julie Uhrman, and venture capitalist Kara Nortman, Angel City FC began playing in the NWSL in 2022. In July 2024, Disney CEO Bob Iger and his wife, Willow Bay, invested $50 million in the club, propelling it to a $250 million valuation and cementing Angel City's position as the most valuable women's sports team in the world.

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Serena Williams' husband Alexis Ohanian connects Reddit’s growth to his vision for women’s sports

In Picture: Serena Williams' husband Alexis Ohanian (Source: Getty)

Serena Williams' husband, Alexis Ohanian, compared growing women's sports to hurdles he faced when launching Reddit. Recently, Katelin Holloway, a partner at his VC firm Seven Seven Six, tweeted about sports fandom fostering community and trust.

In reply, Ohanian shifted the conversation toward women’s sports, highlighting similarities between its growth challenges and Reddit’s early struggles as a startup.

"It's like we're building @reddit all over again in women's soccer, golf, women's track..." Serena Williams' husband wrote.

In other news, Alexis Ohanian shared the reason behind his decision not to invest in a WNBA team, despite Serena Williams' interest.