Kevin Hart turned down tech investment that could be worth $100 million today
Kevin Hart has revealed that he once passed up on an investment that could have been worth a whopping $100 million today.
The actor and comedian admitted that he was offered the chance to invest in Uber during the early stages of the taxi app business, but admitted that he couldn’t get his head around the idea at the time.
During an episode of his podcast Hart to Heart, he explained that the opportunity had come through talent manager and investor Troy Carter.
Carter had encouraged Hart to get involved in the company but he wasn’t as convinced. Hart recalled: “There’s nothing worse than being pitched something that you just can’t see… I had the opportunity to invest in Uber in early stages.”
Advert
Kevin Hart once turned down the opportunity to invest in Uber
He went on to explain how Carter had tried to make the concept easier to understand, describing an app that would allow people to request a lift from nearby drivers, but rather than seeing the potential for a revolutionary new way of getting around, Hart was more concerned about the safety implications.
Hart continued: “This makes me so mad. Shout out to Troy Carter. Troy Carter tells me, ‘Kev, there's this thing, man. It’s called Uber. You gotta invest in it. Listen, it’s easy to understand, right? It’s basically like strangers giving people they don’t know rides. Like people can call on other people for rides.
“I was like, ‘What? People can just, there’s an app and you say you need a ride, and whoever’s close to you that is like one of the drivers under our app will come get you.
“I was like, ‘Sounds like murderville to me’.”
According to Hart, Carter was looking for an initial financial commitment of somewhere between $50,000 and $75,000, but unfortunately for the actor, the opportunity would prove to be a particularly expensive one to turn down.
Hart said: “I think Troy may have asked me for $50,000 to $75,000, and that would’ve been $100 million.”
Uber is now worth around $93.74 billion
Uber has since become one of the biggest names in the global technology and transport industries, transforming how millions of people book journeys and reshaping the traditional taxi business.
According to CompaniesMarketCap, Uber is now valued at approximately $93.74 billion, and it looks like Hart might be regretting his decision, with him admitting: “To this day I think about it.”
This proves that even the most mainstream and successful businesses can start out by initially sounding like the most far-fetched ideas.