Trending
Diddy, Will Smith, & Kevin Durant Unite To Fund $30 Million Speedboat Venture
Here’s a premise: Diddy, Will Smith, and NBA superstar Kevin Durant get in a speedboat with tens of millions of dollars. Safe to say, it’s going somewhere.
Arc One/ via Arc Boats Co,
Diddy, Smith, and Durant join the crew
That’s just what Arc Boats Co. has in mind as it brings the big-time investors. The three teamed up to fund Arc’s new Arc One speedboat, with a $30 million check, per Yahoo. Officially labeled “new strategic investors”, Diddy, Smith, and Durant will invest through their respective venture companies. Diddy will go through Combs Enterprises, Smith through Dreamers VC, and Durant through Thirty-Five Ventures.
In a statement, Arc said:
“Along with being world class in their respective fields, these individuals bring a wealth of experience in building brands, marketing products, and cultivating strong communities. “Together, they’ll help Arc execute faster and amplify our impact.”
Called “a Telsa of the high seas”, this 24-foot long speedboat will be all charge, and also no gas. Reportedly, a single charge can keep the ship going for 3-5 hours. Space age-designed and looking as fit for galactic travel as for seas, the Arc One comes from incredible minds. Ryan Cook, the co-founder of Arc Boats, is a former SpaceX engineer, along with other employees at Arc Boats. Cook also worked extensively on the Falcon 9 launch vehicle, first launched in 2018. CEO Mitch Lee is a software engineer, developer, and also a former engineer at Boeing.
ARC ONE ELECTRIC SPEEDBOAT🚤
With a clean-energy-powered motor that uses an electric powertrain, the ARC One Electric Speedboat effectively eliminates both noise and pollution while sailing through the water.
Learn more ➡ https://t.co/bUe9oPHMXr#supremarine #arcboats pic.twitter.com/hn8P6zWxNE
— SUPREMARINE (@supremarine) August 17, 2021
Costing $300,000, the Arc One is definitely a product for the well-to-do. So, Diddy, Smith, and Durant are most certainly the target audience. And with this latest investment coming on the heels of another $30 million investment, Arc has the wind in its sails.
In other Diddy news, the NYC rapper’s charter school also found a new location in Harlem. Originally opened in 2016, The Capital Preparatory Harlem Charter School serves some 500 students. Now using the historic site of Church of All Saints, Diddy’s new program looks to increase student enrollment to 700 students.
Garrett C. Owen
