Dude Perfect, the five-man crew focused on “giving back, spreading joy and glorifying Jesus Christ,” according to their website, just earned a whopping $100 million cash infusion.
The group behind the viral YouTube account—Coby Cotton, Cory Cotton, Garrett Hilbert, Cody Jones and Tyler Toney—have garnered international attention over the years for their trick-shot videos and winsome content.
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The more than $100 million investment from Highmount Capital marks Dude Perfect’s first external influx of cash, Axios reported, noting the guys, who met as roommates at Texas A&M University and began posting content to YouTube in 2009, have invested their revenue directly into their own expansion. The company stated this year, though, that total profits are expected to exceed $50 million, doubling their revenue from 2022, according to the Wall Street Journal.
Speaking to Axios, Coby Cotton said the group plans to use the money to build out a management team, expand its staff and bring a CEO on board. Additionally, the Christian guys are planning an international tour and are looking into translating their videos into other languages.
And about a year and half ago, the Dude Perfect cofounders released a plan to build a $100 million trick-shot theme park in the Dallas-Forth Worth area.
“The mission of Dude Perfect is to serve families with the most trusted entertainment on earth,” Coby Cotton told D Magazine. “By partnering with Highmount Capital, we hope to pour gas on the fire and take the Dude Perfect fun that families have witnessed on screens these past 15 years and turn it into real-life products and memory-making experiences they can actually touch and feel for themselves.”
David Hawkins, chief investment officer and general partner for Highmount Capital, said his own three sons, ages five, eight and 10, are “super fans” of Dude Perfect. As a father, he said he is a fan of their content, too, because he knows he can trust it is family friendly.
“The most valuable thing we’ve done these last 15 years is build trust with families and then … build trust with the brands,” Coby Cotton said.{eoa}
To read the full story, visit our content partners at Faithwire.
Reprinted with permission from faithwire.com. Copyright © 2024 The Christian Broadcasting Network Inc. All rights reserved.
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