Sydney Sweeney-Backed Sports Betting Platform Reaches $2 Billion Valuation Post-Ad Campaign
Novig's valuation quadrupled after actress Sydney Sweeney appeared nude in its promotional material, despite backlash from some athletes.
The sports prediction platform Novig, which has an equity stake held by actress Sydney Sweeney, has seen its valuation surge to $2 billion. This marks a fourfold increase from its previous $500 million valuation before a controversial advertising campaign featuring Sweeney was released last month. Novig is reportedly fielding additional investor interest and may seek further capital at an enhanced valuation.
Sweeney secured her equity stake in Novig prior to her involvement in the "Just Sports" ad campaign, where she appeared nude, with sports equipment used to preserve modesty. According to Novig CEO Jacob Fortinsky, Sweeney was instrumental in shaping the campaign's visuals and messaging. Sweeney herself stated that she prefers to collaborate on projects and be involved in the creative process, rather than simply endorsing a brand.
Despite the ad campaign's viral success, Sweeney reportedly lost over 200,000 Instagram followers after its launch. The campaign also drew criticism from several high-profile female athletes who argued that it sexualized women's sports. British sprinter Amy Hunt commented that the focus should be on what athletes' bodies can do, not just how they look, while Australian boxer Skye Nicolson called for companies to "do better" and stop sexualizing women in sports.
Novig operates as a prediction market app, exclusively for sports-related predictions, differentiating itself from platforms that allow betting on broader topics such as politics or global events.