“I’m writing this as a father who needs to be able to answer his black daughter when she asks: ‘What did you do?’”, wrote Alexis Ohanian back in 2020 while leaving Reddit. Ohanian resigned from a company he co-founded two decades ago in 2005, citing the need for more black representation. The 41-year-old has always expressed his urge to be the best hero of his little angels. Time and again, he’s reiterated this sentiment and he is setting examples in more ways than one. But guess what? They are also the biggest reason behind a major transition that he brought in his professional life while exiting Reddit. How?
Ohanian took to his Instagram account, on March 25, and shared a clip. He was seen explaining the real reason behind his move to leave Reddit. Was it to start a more profitable company? No. He said, “When I stepped away from Reddit, I resigned in protest from the board, urging companies to ban hate communities and some of the things I found pretty offensive. It’s funny, I naively thought that would motivate a bunch of other executives to resign as well. Turns out no one else did. But I had this identity crisis to first couple of months because here’s this company I spent 15, 16 years of my life building, and now I had to figure out who I was going to be for the rest of my years.”
How? “Olympia was, in many ways, my North Star. And I said, I want to keep building businesses, and I want to be doing it in a way that I know I’m going to be proud of. So that’s why I started Seven Seven Six. I’m going to use this to drive the best possible business outcomes in a way that I can brag to my daughters and hopefully grandkids about one day,” Ohanian further added.
Seven Seven Six was founded in 2020 and it soon reached a valuation of close to $1 billion. In simple words, it’s an early-stage venture capital firm, based on technology. Ohanian has increased his involvement in many philanthropic activities lately.
Serena Williams’ husband looks to invest heavily in women’s sports
After leaving Reddit in 2020, Alexis Ohanian decided to invest in Angel City Football Club (ACFC). It’s a women’s soccer team based in Los Angeles under the NWSL (National Women’s Soccer League). The goal was simple. To elevate women’s soccer in the United States. Later, he sold his shares to Disney CEO Bob Iger and his wife Willow Bay. But guess what? He continued his commitment to uplift women’s sports.
Ohanian soon came up with Athlos. It’s an event designed to bring more spotlight and funding to female athletes. Its first edition was held in September 2024 in New York City at Icahn Stadium, consisting of a massive prize pool, amounting to $500,000. World-class athletes like Olympic champion Gabby Thomas and world record holder Faith Kipyegon were also involved. Result? It attracted a huge viewership of three million across platforms like ESPN, DAZN, YouTube, and X.
Alongside his zeal to be an inspirational father to Olympia and Adira, Ohanian’s motivation to invest in women’s sports also comes from his wife Serena Williams. In fact, he even credited her on a previous occasion for having a massive influence on his business perspective. Speaking on CNBC’s Squawk Box podcast, in July 2024, he revealed, “The core phenomenon here probably came from a certain someone I’m married to, right? Serena Williams is the prototype for how you can show women’s sports and can be and should be on the same level as men’s”
One moment in particular really stuck with him. Back in 2019, Ohanian and Williams were watching the Women’s World Cup final. During the match, Olympia was running in an Alex Morgan jersey. Looking at her, Alexis quipped, “Wouldn’t it be great if she played on a national team one day?” And Serena was quick to respond, “Not until they pay her what she’s worth.”
Recalling that, Ohanian later said, “And I was like, ‘Touché, okay, challenge accepted.’ And that’s what motivated me to buy a team and help be a part of the change.”
Earlier this year, in January, Ohanian also donated a large sum to the University of Virginia’s female basketball team. Although the exact amount wasn’t confirmed, he did mention it crossed a million dollars. In response to his generous act, the university later admired his efforts “to elevate recruiting and player retention efforts while addressing the financial and competitive demands of this new era of college athletics.”
Well, that’s Alexis Ohanian for you – an advocate for women’s sports. Undoubtedly, such initiatives will make his daughters proud when they grow up and look back on his legacy.
The post “Had This Identity Crisis” – Driven by Love for Olympia and Adira, Alexis Ohanian Reveals Why He Left Reddit appeared first on EssentiallySports.