While it's easy to think that most athletes get more than compensated for their games — not to mention any brand deals — Rush Feldhacker knows it's less than 1%.
With millions of athletes out there with plenty of time, energy and, in some cases, patience, to bring their skills to the masses, he set out to help.
He, along with co-founder Russell Gros, launched Florida-based Stipend in November 2021. It was just months after the passage of the "name, image, likeness" bill, allowing college athletes the ability to use themselves as a brand.
"We had the idea when [the NIL] came out and then it was a sprint of how quick to get market," Feldhacker said. "It was a chicken and egg situation of supply and demand, so we said, 'Let's supply the athletes.'"
The company created an online marketplace allowing athletes from nine sports to offer both pre-selected and make-your-own experiences for fans. A user could get a personal tennis lesson from University of California Los Angeles player Abbey Forbes, a Q&A with UNC golfer Austin Greaser, who qualified for the U.S. Open or recruiting advice from Penn State linebacker Curtis Jacobs.
Also from UNC is Peter Fountain, who also gives golf advice, according to the website.
With the NIL ruling, there's the possibility high school athletes could soon make money for their own name, image and likeness. Stipend stated if that were to happen, the high school athletes would be allowed on the platform; on the flip side, the college athletes won't get kicked off once they graduate.
"Our inventory will just keep growing year over year," Feldhacker said.
There are close to 100 athletes hailing from 33 schools, with the hope Stipend could soon hit even more.
The company is also seeking a seed round for an undisclosed amount, which it would use to bulk up its marketing and product.
"It took a while to get where we are, but we feel we cracked the code on athlete recruitment," Feldhacker said. "Now it's hitting the ground running."