Edit in JSFiddle

const tl = new TimelineMax()
tl.set('text', { autoAlpha: 0 })
.set('ellipse', { scale: .5, transformOrigin: 'center' })
.to('ellipse', 2, { scale: 1, rotation: 360, ease: Elastic.easeOut })
.to('text', 2, { autoAlpha: 1 }, "-=1.5")