From Wikipedia On3.com article:
On3.com was founded by Shannon Terry.[6] Along with a business partner, he sold his first company, college recruiting site Alliance Sports, to Rivals.com for $3 million, which he re-purchased for $500,000 when it fell into bankruptcy.[7] Terry kept the Rivals.com branding and rapidly turned a profit using a subscription-based model, growing to 230,000 subscribers before it was sold to Yahoo! in 2007 for a reported $98 million.[7] In 2010, he founded 247Sports, which was acquired by CBS in 2015 for an undisclosed amount,[8] though he continued to serve as CEO until resigning in 2020.[9] Terry announced his new venture, On3.com, in 2021, in an effort to combine his expertise in recruiting and college sports media with the "untapped space around NIL opportunities", referring to name, image, and likeness.[2][3]