MUMBAI: Close to eight months after MS Dhoni announced that he was partnering Run Adam, the former India captain has taken a 25% stake in the analytics-based app that has the stated aim of supporting and developing sporting talent in India.
Also on board the Chennai-based firm is Chess champion Vishwanathan Anand, who had conducted online tutorial master class sessions on the app a few months ago in which he shared the tricks and trades on the game and his personal life experiences.
Run Adam is envisioned as a sports talent ecosystem that connects aspiring athletes to their stakeholders, that includes schools, academies, coaches, associations, venue providers, fitness industry, specialists, sponsors and certifying institutes on a single platform, thereby creating a complete 360 degree marketplace for sporting talent.
Dhoni has taken stake in in the bootstrapped tech-company in his personal capacity and will play a “significant and crucial role as mentor and brand ambassador” of Run Adam.
Financial terms were not disclosed but from this perch it looks unlikely that Dhoni would have put “money on the table”. Rather the arrangement seems to have taken a page out of the Times Group’s “private treaties” play book wherein the print media behemoth offers advertising currency in exchange for equity.
Speaking to SportzPower on the sidelines of the media event to announce the partnership, K Yeragaselvan, CEO, and MD of Run Adam, asserted that with the successful launch of the app, there will be another round of seed funding due to which more investors are likely to come on board and consequently, the valuation of the company is expected to soar to Rs 350 million.
Dhoni, a Padma Bhushan and Padma Shri awardee, launched the sports tech-ecosystem and said: “The sports ecosystem will naturally help identify, help and nurture sporting talent early and this can change the destinies of sportspersons as also the future of sports in India. When you help sportspersons achieve their full potential, you propel the sporting quotient of the entire country. My decision to take stake in the company was due to the passion of the team and their vision for sportspersons.”
Yeragaselvan added: “India is yet to achieve its full potential in sports and this is not because there is a lack of talent in the country. Pursuing sports is expensive in terms of money, time and other sacrifices that one has to make. Most sportspersons are self-funded and often don’t come from affluent backgrounds, and many cannot reach their goal mainly due to lack of access to resources. Run Adam aims to bridge this gap in sports. We are excited and encouraged by the support that a stalwart like M. S. Dhoni has given us. His interest and involvement in Run Adam inspired us to reinforce our vision to bring the country’s sporting ecosystem under one umbrella to help solve the biggest challenges facing sporting talent.”
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