Lacey Rose, writing For The Hollywood Reporter:
For the time being, Simmons has taken no other outside investment, using what insiders describe as seven-figure revenue generated primarily by sponsorship and branding deals to help fund The Ringer side of the enterprise. “I had all of these people who wanted to [invest,] famous f—ing people,” says Simmons. “But one of my goals was to have as few people in my life as possible who would be like, ‘Why are you doing that? What’s going on here?’ ” Looking ahead, he and Eric Weinberger, whom he recruited from the NFL Network to run the company, won’t rule out taking on additional investors.
Fascinating story.