April 21, 2023
Grand Slam: Naomi Osaka’s Media Company, Hana Kuma, Raises $5 Million In Fundraising
Tennis superstar Naomi Osaka is becoming a household name in business on and off the court.
The Hollywood Reporter reports the mom-to-be, 25, has raised $5 million in a fundraising round for her media company, Hana Kuma. Partnering with Stuart Duguid, founder of sports talent agency EVOLVE, investors in the new round include LeBron James and Maverick Carter, founders of SpringHill Co., who helped Osaka in the initial launch of her brand last June.
Other investors include Boston Red Sox owner Fenway Sports Group and Epic Games, the owner of Fortnite. Duguid says the partnership with James and Carter just felt right. “You know, there was never any grand plan of ‘We’ll spend X amount of time under the SpringHill umbrella and then we’ll go and do it ourselves,’” Duguid said. “It just happened very organically and naturally, and it came to the point where we decided it was time to raise financing, build out the business and hire more people and have a more robust team and a more robust business plan.”
Critics scrutinized the partnership between James and Osaka, especially her company’s name. Tapping into her Japanese heritage, the name means “flower bear”; however, once Twitter caught wind of it, African tweeters claimed “Hana Kuma” translates to “woman without a vagina” in Swahili.
According to AfroTech, the funding will be used toward expanding Hana Kuma’s team and programming and creating “a more robust business plan.” Proud of her Japanese-Haitian background, Osaka is excited to tell a wide range of stories. “We’re having the opportunity to tell you stories that I haven’t necessarily seen before, and I think that’s what kind of drew me to it,” the US Open champion said. I’m just telling the stories that I think are interesting.”