Thread by @karanortman

Today, together with my co-founders Natalie Portman and @juhrman, I am proud to announce that we are bringing a women’s professional soccer team to my hometown, Los Angeles @WeAreAngelCity 1/

Along w lead investor @alexisohanian joined by 14 former SoCal @USWNT players including legends @miahamm + @juliefoudy; 2015 WC champions @AbbyWambach, @laurenholiday12; GOAT @serenawilliams, @OlympiaOhanian; Fans/Activists @EvaLongoria @UzoAduba @AmericaFerrera @GlennonDoyle+ 2/

First majority woman-founded, women president, majority women owned professional sports team 3/

This team emerged organically by showing up in shared spaces to learn, cheer and support through lunches, NWSL + USWNT matches, the #UpfrontSummit, @timesupnow pay equity workshops, WC celebration parties, and pick-up basketball games. 4/

Today’s story is about so much more than sports to me-- it’s a story about women supporting women. It’s a story of entertainment, passion for soccer, mission, and activism. It’s a story of a hobby turning into a business. 5/

It’s about a belief that women’s teams are worth what men’s teams are worth and players should be paid accordingly 6/

It’s about finding people who inspire you to dream bigger than you thought possible. I am an optimist and it took Natalie Portman texting me “let’s bring a team to LA” for me to consider this was a possibility 7/

This story started for me when I went to the 2015 Vancouver World Cup finals with my three daughters as fan in the stands 8/

I wanted to buy swag and watch at home. BUT, I couldn’t find jerseys to buy or content to watch. I started asking anyone who would listen-- “Why won’t anyone take my money?” 9/

This led me to @beccaroux, Executive Director of the @USWNTPlayers who became my soccer sage, teaching me the business side of soccer-- the rights, revenue streams, dynamics 10/

I met @beccaroux through @HeidiPatelSF, @jesskah + our work at @AllRaise-- the organization founded by women in my industry who believe in a tech culture where women are leading, shaping, and funding the future along w/ the men 11/

In thinking about the future of women’s sports, I went all in on both the business opportunity and supporting the @USWNTPlayers fight for equality. I got to know players, past and present, who inspired the hell out me on AND off the field 12/

The USWNT women are the best soccer players in the world and so much more...

Cultural icons. Activists. Role models. 13/

Yet despite my persistence it was nearly impossible to buy a jersey w their names on the back for one of my 3 daughters in 2015 + only slightly better in 2019 thanks to licensing efforts by the @USWNTPlayers 14/

latimes.com/sports/soccer/…

My inspiration and teachers include @alexmorgan13, @christenpress, @kelleymohara, @meghankling, @mPinoe, @TobinHeath, @crysdunn_19, @Ashlyn_Harris, @julieertz, @sammymewy, @beckysauerbrunn, @ADizzle23, @roselavelle @JulieFoudy, @MiaHamm and so many more 15/

My research continued at the 2019 WC. I planned only to go to one game, but ended up spontaneously adding two more, including the final, hosted by the @USWNTPlayers!

My first alone, “fun” overnight trip since having kids.

I was all in. 16/

My passion as a fan and former collegiate athlete met my interest as an activist and eventually my optimism as a venture capitalist after that game 17/

In venture capital, the holy grail is when you find a founder CEO with a North Star in a market at an inflection point 18/

.@juhrman is our founder, the mission of putting a professional women’s team and league on the global stage is in her soul. No job too big or too small. Moves through everything with calm fire (Julie on right, me on left) 19/

Here’s what an inflection point looks like:
*Global fanbase is 50/50 men/women, yet female athletes receive just 4% of sports media coverage
*500k+ viewers on CBS w/o much promotion
*Oh yea... then there’s IGTV, Twitch, TikTok, new dist where the fans live, play + watch! 🏟️📱/20

Why LA?
*SoCal home to 14 players who have made a USWNT World Cup roster, the most!
*@UCLA = 15 alumnae in NWSL Challenge Cup (the most!)
*@USC = 8 alumnae in Challenge Cup (close!)
*2 Mens MLS teams sell out 2 diff stadiums
*@USWNT sells out both those stadiums too! ⚽️🏝️21/

Despite women’s soccer being undervalued and under invested in, the women consistently get the highest ratings and generate the most revenue. Distribution just starting.

Ridiculous cool merch emerging

Players becoming famous gamers @ALLIE_LONG 🙌🏻 22/

Our guiding principle from Day 1 has been to be deliberate about our community and our capitalization 23/

techcrunch.com/2020/07/21/vcs…

LA, Angel City. The. Best. Fans. In. The. World. 24/

Building something bigger than a game, a fanbase + business that shows up not only for our team on the field but the larger community to get more girls and boys access to the sport.

Partnering w/ @LA84Foundation to learn + drive change and equality in our local community 25/

We come into this sport with an entrepreneurial mindset + gratitude to the FANS, @NWSL_LA, @nwsl @nwsl_players @USWNTPlayers @lisainog @MerrittPaulson, 100s of others who helped us and have given us this opportunity 26/

Many told us this team was not possible. We could have quit a hundred different times. We’re still early in our journey, but today is a major milestone. We will make mistakes, but we will persist. I am deeply proud of our work. 27/

My hope is that with this new soccer team we will provide an exceptional experience for our players, our fans and our city 28/

In this moment we need our passions + communities more than ever. Grab a scarf + join us in the stands in 2022!

And follow your passions, even when others doubt. Everything starts when you have a crazy idea where you allow yourself to think it just might be possible. 29/

We stand as a community on the shoulder of giants

See more ➡️ weareac.co/2ZM2KqV @WeAreAngelCity #WeAreAngelCity [End]