NFL Player Bobby Wagner Gets an Equity Stake in Public.com

According to CNBC, NFL Linebacker Bobby Wagner has received an equity stake into Public.com, the investing platform that allows users to buy stocks. The terms of Wagner’s investment were not available.

The Seattle Seahawks player will also advise Public’s program for NCAA student-athletes.

Founded in 2019, Public is an investing platform that allows users to buy shares of stocks and promotes financial literacy and awareness about the stock market.

Public.com has said that it raised $310 million, and investors include venture capital firms Accel, Greycroft and entertainer Will Smith’s Dreamers firm. Public is privately valued at $1.2 billion, according to Pitchbook.

Wagner made the announcement of the deal on Wednesday at his weekly news conference. The compny said that it will distribute free stock for Wagner’s fans who start an account.

In an interview with CNBC, Wagner explained why he invested in the platform. He said he likes “what they are doing, and financial literacy is something that is important to me.”

He added, “I want people to understand how money works and how people invest.” He then labeled Public a “community – so you can have conversations with people to get their thoughts on why they are investing in certain things.”

Public co-CEO Leif Abraham told CNBC the company has more than 1 million users. Public.com has a mission to “scale education around the stock market.”

It was last year that Wagner had joined a tech fund established by Fuse Venture Partners. The firm wants to invest in early stage companies based in Seattle. Wagner joined as a venture partner alongside other investors, such as former Microsoft exec John Connors and former Amazon executive Satbir Khanuja.

Wagner said he wants to see more players “get out of the mindset of giving it to someone else and letting them do the investing. Instead, gain some knowledge so you can have a conversation versus being told what to do.”

He admitted, “I’m still learning what stocks are good to invest in, how long you should hold on to them, versus when you should sell them. So this partnership is a platform for me to learn as well.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.