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50 years after Title IX, women’s soccer is surging thanks to brand deals boosting visibility: ‘What’s been proven is people love women’s sports’

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With two World Cup wins, an Olympic bronze medal, and experience in multiple pro leagues around the world, Christen Press is one of the most prolific soccer players of the time. But fans would be hard-pressed to find digital evidence of her early career highlights from when she competed in Women’s Professional Soccer (WPS), the precursor to the National Women’s Soccer League (NWSL) that folded in 2012.

“If you go back and try to find highlights from my first years as a pro, you can’t,” Press told Marketing Brew. “You can find US Women’s National Team (USWNT) highlights always, but that’s what you’ll find. It was like that was my only job.”

Now, highlights of Press—or, really, any other pro women’s soccer player—are abundantly available, just one indication of just how much the landscape of women’s sports has shifted in the last few decades. More than 50 years after the passage of Title IX made it possible for more girls to succeed in sports in grade school, the talent pool of women athletes is deeper than ever, media outlets are showing women’s sporting events in prime time to record-breaking audiences, and major brands are funneling sponsorship dollars into the ecosystem.

Sport to sport, it’s not exactly clear what should be credited with kicking off the boom. But does it matter? Thirteen years after the founding of the NWSL, women’s professional soccer seems here to stay in more ways than one, with two of the biggest revenue drivers in sports—media rights and sponsorships—abundant enough to prop up two pro properties.

Ready for prime time

One of the biggest changes in the women’s soccer ecosystem in recent years has been media coverage of the sport. In the days of the WPS, and even more recently, fans often struggled to find games on TV aside from international tournaments like the World Cup and the Olympics every couple of years.

“When I started playing in the WPS and my first days of the NWSL, I was playing in front of a couple hundred people on bleachers in high schools and colleges,” Press remembered.

It wasn’t until 2022 when CBS Sports aired the NWSL Championship in prime time for the first time, but when it did, the game became the most-watched NWSL match in history, with 915,000 viewers, a 71% increase from 2021, per CBS. (The 2024 Championship beat that record, averaging 967,900 viewers, according to the NWSL.)

The deal for prime-time coverage in part came about thanks to Ally Financial, a years-long sponsor of the NWSL and many other women’s sports properties, which played a key role in conversations with the league and the network.

“You’ve got this vicious cycle that’s never going to be broken unless the brands jump in and kind of force systemic change,” Ally CMO Andrea Brimmer told Marketing Brew at the time. “It takes the brands sitting at the table to demonstrate that they’re willing to come in, that they’ve got the money to invest, but that they need the networks to think differently about the way that they’re selling media and the way that they are giving women’s sports timeslots and the platforms that they deserve.”

The NWSL’s current four-year media rights deal, signed in 2023, indicates a much different approach from networks and streamers, spanning coverage across CBS Sports, ESPN, Prime Video, and Scripps Sports; it’s reportedly worth $240 million. As of the mid-point of the current NWSL season, livestreams of matches were up 34% year over year, with 1.2 billion minutes viewed, according to the league. Women’s soccer fans can also watch pros play on Peacock, which holds the media rights to the Gainbridge Super League, a new pro women’s soccer league that kicks off its second season on August 23.

New media

While major media outlets play a big role in whether women’s soccer is widely available to audiences, the ecosystem has also been thriving thanks to athletes taking matters into their own hands, leveraging channels like social media and podcasts to increase visibility of the sport.

“Social media completely changed the landscape for women’s sports in a really powerful way, because before, you had all these legacy media channels that really acted as middlemen,” said Tobin Heath, an NWSL and USWNT icon who announced her retirement in July. “Once a year you’d get this terrible window, never prime time, and always it was through a lens of what the patriarchy wanted to see in women’s sports, which was obviously extremely narrow and really didn’t represent our sport’s culture at all.”

That frustration led Heath and Press, who are married, to found Re—Inc, a sports media company that publishes newsletters and podcasts meant to represent “gal culture,” which Heath described as an answer to “bro culture.” Their podcast, The Re—Cap Show, joined the Audacy network for distribution and global ad sales in July, part of a larger wave of growing interest in women’s sports podcasts.

Heath and Press aren’t the only soccer icons who have carved out their own media channels. Former USWNT co-captain Alex Morgan has Togethxr, the media and commerce company she started with Olympic snowboarder Chloe Kim, Olympic swimmer Simone Manuel, and basketball legend Sue Bird. Bird also founded production company A Touch More alongside her partner, Megan Rapinoe, another retired USWNT co-captain.

Through these platforms, the players can bypass legacy media companies and engage directly with fans on their own terms, which wasn’t always an option for athletes. Brandi Chastain, whose penalty kick delivered the USWNT the World Cup in 1999 and who went on to work with brands including NikeGatorade, and Bud Light, said she sometimes thinks about what her sponsorship roster could have looked like had she been playing in 2025.

“In terms of brands and branding, gosh, I think there’s a part of me that wishes that there were all these resources that existed,” she said.

Brand ball

As the audience for women’s soccer has grown, so too has its list of sponsors. This year, the NWSL kicked off its 13th season with 13 sponsors, including first-time brands E.l.f. Beauty and Alex Cooper’s Unwell Hydration. E.l.f.’s involvement represents a broader trend of beauty brands, which haven’t historically invested much in sports, leaning into sports sponsorship opportunities across leagues, including the NFL and WNBA. In August, E.l.f. further upped its investment in women’s soccer by signing NWSL players Melanie Barcenas, Abby Dahlkemper, Lo’eau LaBonta, and Jaedyn Shaw to its talent roster.

For brands, women’s sports are particularly compelling because the audience tends to encompass different consumers than men’s sports audiences, Super League President Amanda Vandervort told Marketing Brew. In pro basketball, for example, only 5% of Golden State Valkyries season-ticket holders also have Warriors season tickets, despite the teams sharing both an arena and a sport, a standout stat for founding partner JPMorganChase.

“There’s so many communities who haven’t had access to women’s pro soccer, and when you add that to the growing interest, the demographics and behaviors of our fans, and the opportunity for brands and sponsors to get in front of a whole new audience, it just makes business sense,” Vandervort said. “Now, we’re having real conversations about the return on the investment in women’s professional soccer.”

This year, the Super League announced Gainbridge had purchased the league’s naming rights, and it’s only seen an uptick in inbound interest since then, according to Vandervort. The league also has several endemic sponsors, including kit provider Capelli Sport and ball manufacturer Select.

In the NWSL, jersey sponsorships are breaking records at breakneck speed. Last year, Bay FC reportedly had the biggest back-of-jersey deal in the league with Trader Joe’s, and in February, Gotham FC and Dove reportedly broke the record again. Days later, the Portland Thorns and Ring were said to have agreed to the biggest deal in league history, exceeding $2.6 million.

“It’s not just about the dollars,” Matt Soloff, SVP, partnerships and business development at the NWSL, told us. “It’s about leaning into brands that want to lean into us at the highest level.”

Amazon, for instance, has a wide-ranging relationship with the NWSL that includes streaming rights to Friday night games and a playoff match on Prime Video, as well as an exclusive retail sponsorship for Amazon and the presenting sponsorship of the league’s Best XI Awards for Amazon Prime. The company also worked with the league and other media partners, including Togethxr, for a docuseries about the 2024 season.

It was the “rabid fanbase and the growth” of the league that made it stand out to a sponsor as big as Amazon, according to Deb Curtis, global director of marketing for Amazon Prime.

“The growth and the excitement around women’s sports, and obviously the NWSL, is incredibly energizing,” Curtis said. “Fandom fuels growth, and so we see our role as being able to go deeper. People know our brand, so how can our brand help to enhance that experience?”

Brand sponsorship dollars can also be invested back into the leagues, creating a virtuous cycle for women’s soccer.

For some players who have seen the industry shift in real time, it feels like vindication.

“What’s been proven is people love women’s sports,” Heath said. “That’s just the truth, and also, they love women’s athletes as people. Brands love women’s athletes. They’re more approachable. They’re better at marketing.”

This report was originally published by Marketing Brew.



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5 VCs sounds off on the AI question du jour

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The views seem to range from bubble-wary to bubble-dismissive. We hashed it all out over eggs and sausages at Fortune’s IRL Term Sheet Breakfast at Brainstorm AI in San Francisco yesterday. This is Amanda Gerut, Fortune’s West Coast news editor, pinch-hitting for my colleague Allie Garfinkle.

Allie hosted five VCs with funds ranging in size from $5 million to $25 billion and views varied across the panel. This group alone is collectively going to deploy anywhere from tens to hundreds of millions over the next decade into companies with AI as a backdrop and these investments will either prove spectacularly right or wrong.

Here’s a roll call:

Jenny Xiao, partner at Leonsis Capital and former researcher at OpenAI, came in with a nuanced take. There’s something of a bubble, but it’s “relatively contained” in the infrastructure layer with overinvestment primarily in data centers, GPUs and in large language model companies. But right now, there’s actually underinvestment in the application layer because there are so many ways AI can make an impact in various enterprises, Xiao said. 

Vanessa Larco, former partner at New Enterprise Associates (NEA) and co-founder of new venture firm Premise, has a contrarian view. “Everyone thinks enterprise is safer,” Larco said. “But I actually think the consumer might, this time around in the current environment, be what survives.” Larco’s reasoning is that if a consumer adopts your AI product, it’s because you’re giving them something faster, “radically cheaper, or much easier to use.” Once you’ve done that and built a brand, it’s very hard for people to quit you. 

Rob Biederman, managing partner at Asymmetric Capital Partners and chairman of Catalant Technologies, had a sobering view. “In every boom, 99% or 99.9% of companies fail, and one or two of them become Amazon or Google,” said Biederman, who had to dash off to catch a flight. Only companies that can systematically create value for customers, which most of them aren’t doing right now, will survive. 

Aaron Jacobson, partner at NEA, said the history of technological innovation “is always overhyped in the near term and underhyped in the long term, and that will be true of AI.” So at some point there will be a correction and there will be cycles of pain around valuation and funding, “but ultimately, in 10 years, we’re going to have a lot of really big, impactful companies.”

Daniel Dart, founder and general partner of Rock Yard Ventures, had the boldest counter to fears about a bubble. He sees a total addressable market we can’t yet imagine. People think self-driving Waymos will replace Ubers, but Dart sees elementary schools and elderly care centers with Waymos waiting out front and that proves to him we’re still in the early innings. 

“You’re really going to tell me there aren’t going to be any trillion-dollar companies in 2030 or 2034? No one here is going to take that bet,” said Dart. “There is going to be so much value creation that it’s like the birth of fire.”

See you tomorrow,

Amanda Gerut
Email:
Amanda.gerut@fortune.com
Submit a deal for the Term Sheet newsletter here.

Joey Abrams curated the deals section of today’s newsletter.Subscribe here.

Venture Deals

Saviynt, an El Segundo, Calif.-based identity security platform, raised $700 million in series B funding. KKR led the round and was joined by SixthStreetGrowth, TenEleven and existing investor CarrickCapitalPartners.

fal, a San Francisco-based AI-generated media platform, raised $140 million in Series D funding. Sequoia led the round and was joined by KleinerPerkins, NVentures, and AlkeonCapital.

Radial, a New York City-based network designed to help patients access advanced mental health treatments, raised $50 million in Series A funding. GeneralCatalyst led the round and was joined by SolariCapital, SLHealthCapital, FounderCollective, BoxGroup, ScrubCapital, and DiedevanLamoen.

Relation, a London, U.K.-based developer of medicines for immunology, metabolic, and bone diseases, raised $26 million in funding from NVentures, DCVC, and MagneticVentures.

Aradigm, a New York City-based benefits platform for cell and gene therapies, raised $20 million in Series A funding. FristCresseyVentures led the round and was joined by AndreessenHorowitz and MorganHealth

PrimeSecurity, a Tel Aviv, Israel and New York City-based AI-powered platform designed to detect and mitigate risks during software design, raised $20 million in Series A funding. ScaleVenturePartners led the round and was joined by FoundationCapital, FlybridgeVentures, and others.

Algori, a Madrid, Spain-based AI-powered shopper insights platform for the fast-moving consumer goods industry, raised €3.6 million ($4.2 million) in funding from RedBullVentures, Co-invest Capital, AttaPoll, and others.

EmpromptuAI, a San Francisco-based platform designed to help transition SaaS products into AI-native systems, raised $2 million in pre-seed funding. PrecursorVentures led the round and was joined by AlumniVentures, FoundersEdge, RogueWomenVC, and others.

Private Equity

AppDirect, backed by CDPQ, acquired vComSolutions, a San Ramon, Calif.-based IT management platform, at an enterprise valuation of more than $100 million.

JensenHughes, backed by GryphonInvestors, acquired SafetyManagementServices, a West Jordan, Utah-based fire and life safety company. Financial terms were not disclosed.

NewStateCapitalPartners acquired a majority stake in Harrell-Fish, a Bloomington, Ind.-based mechanical installation and maintenance services provider. Financial terms were not disclosed.

PestCoHoldings, a portfolio company of ThompsonStreetCapital, acquired SouthwestExterminating, a Houston, Texas-based pest control provider. Financial terms were not disclosed.

ProsperityPartners, backed by UnityPartners, acquired a majority stake in Farkouh, Furman & Faccio, a New York City-based provider of tax, attest, accounting and business consulting services. Financial terms were not disclosed.

SEVA acquired a minority stake in Pronto, a Lehi, Utah-based team communications platform designed for front–line employers and higher education institutions. Financial terms were not disclosed.

Exits

ArclineInvestmentManagement acquired Altronic, a Girard, Ohio-based supplier of ignition, control, and instrumentation systems for critical infrastructure power systems, from HOERBIGERGroup. Financial terms were not disclosed.

BerkshirePartners agreed to acquire UnitedFlowTechnologies, an Irving, Texas-based process and equipment solutions company for water and wastewater systems, from H.I.G.Capital. Financial terms were not disclosed.

BessemerInvestors acquired Xanitos, a Newtown Square, Penn.-based provider of environmental services, patient transport, patient observation, and linen services, from AngelesEquityPartners. Financial terms were not disclosed.

ShareRockPartners acquired a majority stake in AMAGTechnology, a Hawthorne, Calif.-based physical security solutions provider, from AlliedUniversal.



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Coupang CEO resigns over historic South Korean data breach

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Coupang chief executive officer Park Dae-jun resigned over his failure to prevent South Korea’s largest-ever data breach, which set off a regulatory and political backlash against the country’s dominant online retailer.

The company said in a statement on Wednesday that Park had stepped down over his role in the breach. It appointed Harold Rogers, chief administrative officer for the retailer’s U.S.-based parent company Coupang Inc., as interim head.

Park becomes the highest-profile casualty of a crisis that’s prompted a government investigation and disrupted the lives of millions across Korea. Nearly two-thirds of people in the country were affected by the breach, which granted unauthorized access to their shipping addresses and phone numbers.

Police raided Coupang’s headquarters this week in search of evidence that could help them determine how the breach took place as well as the identity of the hacker, Yonhap News reported, citing officials.

Officials have said the breach was carried out over five months in which the company’s cybersecurity systems were bypassed. Last week President Lee Jae Myung said it was “truly astonishing” that Coupang had failed to detect unauthorized access of its systems for such a long time.

Park squared off with lawmakers this month during an hours-long grilling. Responding to questions about media reports that claimed the attack had been carried out by a former employee who had since returned to China, he said a Chinese national who left the company and had been a “developer working on the authentication system” was involved.

The company faces a potential fine of up to 1 trillion won ($681 million) over the incident, lawmakers said.

Coupang founder Bom Kim has been summoned to appear before a parliamentary hearing on Dec. 17, with lawmakers warning of consequences if the billionaire fails to show.

Park’s departure adds fresh uncertainty to Coupang’s leadership less than seven months after the company revamped its internal structure to make him sole CEO of its Korean operations. In his new role, Rogers will focus on addressing customer concerns and stabilizing the company, Coupang said.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.



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Databricks CEO Ali Ghodsi says company will be worth $1 trillion by doing these three things

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Ali Ghodsi, the CEO and cofounder of data intelligence company Databricks, is betting his privately held startup can be the latest addition to the trillion-dollar valuation club.

In August, Ghodsi told the Wall Street Journalthat he believed Databricks, which is reportedly in talks toraise funding at a $134 billion valuation, had “a shot to be a trillion-dollar company.” At Fortune’s Brainstorm AI conference in San Francisco on Tuesday, he explained how it would happen, laying out a “trifecta” of growth areas to ignite the company’s next leg of growth.

The first is entering the transactional database market, the traditional territory of large enterprise players like Oracle, which Ghodsi said has remained largely “the same for 40 years.” Earlier this year, Databricks launched a link-based offering called Lakehouse, which aims to combine the capabilities of traditional databases with modern data lake storage, in an attempt to capture some of this market.

The company is also seeing growth driven by the rise of AI-powered coding. “Over 80% of the databases that are being launched on Databricks are not being launched by humans, but by AI agents,” Ghodsi said. As developers use AI tools for “vibe coding”—rapidly building software with natural language commands—those applications automatically need databases, and Ghodsi they’re defaulting to Databricks’ platform.

“That’s just a huge growth factor for us. I think if we just did that, we could maybe get all the way to a trillion,” he said.

The second growth area is Agentbricks, Databricks’ platform for building AI agents that work with proprietary enterprise data.

“It’s a commodity now to have AI that has general knowledge,” Ghodsi said, but “it’s very elusive to get AI that really works and understands that proprietary data that’s inside enterprise.” He pointed to the Royal Bank of Canada, which built AI agents for equity research analysts, as an example. Ghodsi said these agents were able to automatically gather earnings calls and company information to assemble research reports, reducing “many days’ worth of work down to minutes.”

And finally, the third piece to Ghodsi’s puzzle involves building applications on top of this infrastructure, with developers using AI tools to quickly build applications that run on Lakehouse and which are then powered by AI agents. “To get the trifecta is also to have apps on top of this. Now you have apps that are vibe coded with the database, Lakehouse, and with agents,” Ghodsi said. “Those are three new vectors for us.”

Ghodsi did not provide a timeframe for attaining the trillion-dollar goal. Currently, only a handful of companies have achieved the milestone, all of them as publicly traded companies. In the tech industry, only big tech giants like Apple, Microsoft, Nvidia, Alphabet, Amazon, and Meta have managed to cross the trillion-dollar threshold.

To reach this level would require Databricks, which is widely expected to go public sometime in early 2026, to grow its valuation roughly sevenfold from its current reported level. Part of this journey will likely also include the expected IPO, Ghodsi said.

“There are huge advantages and pros and cons. That’s why we’re not super religious about it,” Ghodsi said when asked about a potential IPO. “We will go public at some point. But to us, it’s not a really big deal.”

Could the company IPO next year? Maybe, replied Ghodsi.



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