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Steve Smith's $1.4M Koala Investment Pays Off
1 Apr
Summary
- Steve Smith earned $1.4 million from a 2015 investment.
- His initial $100,000 stake became 10% of Koala.
- Koala's stock surged upon its Australian Securities Exchange debut.
Australian cricketer Steve Smith has realized a substantial financial gain of $1.4 million from an early investment. In 2015, Smith invested $100,000 in the online bedding and furniture company Koala, acquiring a 10% stake. The company's recent debut on the Australian Securities Exchange (ASX) on Tuesday marked a significant moment for Smith.
As the eighth-largest shareholder, Smith witnessed his investment's value climb, particularly after its initial stock market performance. Koala is now valued at over $13.2 million, cementing Smith's profitable decision. Beyond this venture, Smith is also involved with financial tech app Bamboo and previously invested in Snappr.
