- New venture to be funded and operated by private equity holding firm Magnet Companies
- According to the New York Times, Togethxr plans to create original content and form partnerships with social media platforms, as well as sell merchandise
Four Olympic gold medallists have teamed up to launch Togethxr, a new female-focused media and commerce company aiming to ‘elevate women’s voices’.
The athletes behind the new venture are Fifa Women’s World Cup-winning soccer player Alex Morgan, basketball star Sue Bird, swimmer Simone Manuel and snowboarder Chloe Kim.
The platform will be funded and operated by Magnet Companies, a private equity holding firm, which according to the New York Times has made a ‘mid-seven figure investment’.
Jessica Robertson, Togethxr’s chief content officer, told the New York Times that the company will create original content and have partnerships with social media platforms, as well as sign licensing deals and sell merchandise. She added that the platform’s target audience is girls and young women with an interest in topics including sports, activism, culture, wellness and beauty.
According to Sportico, Togethxr expects to drive revenue through sponsorships, consumer products and its own media studio.
The company plans to publish new content on its social channels daily, including YouTube docuseries, starting with a feature on 17-year-old boxer Chantel Navarro, who is hoping to compete at the 2024 Olympic Games.
‘We have our individual legacies as athletes through championships and medals, but what's most important to us is championing for the next generation of women – because that will be the legacy that lasts,’ the co-founders said in a joint statement.
‘We're proud to have worked as a team to create Togethxr – a brand that elevates women's voices and celebrates where sport and culture converge.’
Togethxr is the latest athlete-founded media company, joining platforms such as The Players’ Tribune, Uninterrupted and Thirty Five Ventures.