Iman Shumpert’s early investment in Uber was a home run.

Decision To Invest In Uber

The former NBA player appeared on the “Club Shay Shay” podcast and revealed he had a chance to invest in Uber at a time when he was making little money. When he learned about the opportunity, Shumpert shared that the concept sounded familiar, felt familiar to him, reminding him of the luxury cab service featured in the 1997 comedy-action film “B.A.P.S.” called Page-A-Cab Luxury Cab Co.

“Somebody said something about that Uber sounded like, you remember rent a cab. In B.A.P.S., they basically was talking about Uber. What if you could have a private driver whenever you want… And when I heard of Uber, I’m like, ‘That’s kind of like’… And I’m like, ‘But wait a second, let me put a little money in there,'” Shumpert recalled on the podcast.

Why He Sold His Shares In Uber

Shumpert invested in Uber early. It is unclear how much his stake in the company was, but he went on to sell those shares because he assumed they would decline. However, he still walked away with a payday.

“That sh-t flipped about two, three times. Well I took that money out so quick and bought something… I still made my money. I just didn’t make as money,” he said on “Club Shay Shay.”

In a separate interview on VladTV, Shumpert also noted he wasn’t fond of investing in others’ minds due to trust issues. This mindset explains why he sold his shares in a company that now has a multi-billion-dollar valuation.

Shumpert’s financial framework also influenced how he carried himself as an athlete. As AFROTECH™ previously told you, the player, who entered the NBA draft in 2011, saved half of his NBA earnings regardless of the size of his contract or salary throughout his time in the league. He last played for the Brooklyn Nets during the 2020-21 season.