ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Analyst. Market Analyst is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
Market Analyst Logo
Market Analyst Logo
MARKETANALYST.US / ECONOMY & WORK

YouTube Creator Group Dude Perfect Raises More Than $100 Million; Here’s How It Plans To Spend It

The group successfully raised money from Highmount Capital, a private equity investment firm focused on technology and media platforms.
PUBLISHED APR 10, 2024
Cover Image Source: Dude Perfect raises more than $100 million | Getty Images |  Jason Kempin
Cover Image Source: Dude Perfect raises more than $100 million | Getty Images | Jason Kempin

Popular Internet Group Dude Perfect, known for its comedy videos, recently raised more than $100 million to expand its reach and churn out more content. Dude Perfect, which was founded more than a decade ago, is known for its content focused on sports as well as humor and has amassed millions of viewers over time. The group successfully raised money from Highmount Capital, a private equity investment firm focused on technology and media platforms, according to the announcement.

“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 touch and feel for themselves,” co-founder Coby Cotton said in a statement.

Dude Perfect | Getty Images | Michael Owens
Dude Perfect | Getty Images | Michael Owens

"What we're looking to do with what we keep calling Dude Perfect 2.0 is to continue to find ways to invite people into the ethos of what Dude Perfect stands for and ...feel like one of the dudes and be able to engage in the type of fun things that we do," Cotton said. "Whether that's through products that people can purchase or an experience at home, we just want people to feel like they're the sixth member of Dude Perfect," he added.

According to Cotton, the group plans to use the money to build a management team and grow its team of about 25 people. The company is also reportedly interested in growing its international business and translating some of its content into other foreign lingos, noting that half of its viewer base is international. The group is also looking at planning events like a traveling show and a permanent exhibit.



"We feel like we've done a really good job at certain things but these dreams that we have are really big and we knew that we needed to take another big step," Cotton said. "And for us that was not only bringing on capital, but bringing on expertise and leadership and people that know how to take IP... to help us 10x what Dude Perfect is and what it can be," Cotton said while talking about their plans.



The group is currently working on opening its third HQ which reportedly houses a retail store. The new corporate HQ will include a 330-foot tower that can be used for trick shots."We're still extremely excited about that vision," Cotton said, adding that the group still sees an "opportunity to create a big, in-person destination." Apart from the HQ, Dude Perfect is also working on building a new 20,000-square-foot space in Frisco at 15900 Gateway Dr., a project with a price tag of $3 million, as reported by WFAA.

The new office is set to be ready in a couple of months and will be twice as big as their current office. "It's another basically warehouse space that we're able to customize and build out. And boy are we customizing it," Cotton said. Furthermore, reports say that Dude Perfect is currently looking for a CEO and other C-suite positions. According to the Wall Street Journal, the group reported around $25 million in 2022, an increase of $5 million from the previous year.

POPULAR ON MARKET REALIST
MORE ON MARKET REALIST