About 390 people held shares in the 2023 Kentucky Derby winner Mage through the sports investment app Commonwealth. And at $50 per share, about 100 app users with tickets to the horse race were in the exclusive winner’s circle at Churchill Downs to celebrate Mage’s victory.

“We had over 100 people at the Kentucky Derby with us. The winner’s circle was packed with people, tons of young people,” Commonwealth co-founder and CEO Brian Doxtator told Front Office Sports. “You could have bet a million dollars on Mage in the Kentucky Derby, but you don’t go in that winner’s circle. You could have put $50 in with Commonwealth, and you’re in that winner’s circle.”

On Saturday, Commonwealth went from a startup that had not spent “a dime” on marketing to getting mentioned by announcer Mike Tirico on NBC’s Kentucky Derby broadcast, watched by 16.6 million peak viewers. About 6,000 people signed up for the Commonwealth app in 48 hours after the Kentucky Derby, with its total user base surpassing 15,000 accounts.