DIRS.INFO The most relevant business & tech news

☆ Fanatics increases its offer to $225 million to acquire PointsBet's U.S. assets
▼ + stars: | 2023-06-28 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

Fanatics has raised the stakes as it looks to acquire PointsBet's U.S. business. The sports platform company increased its offering by 50% to $225 million in an effort to outbid DraftKings , which made a non-binding offer of $195 million earlier this month. PointsBet shareholders will formally vote on the new offer Thursday night. "The Board unanimously supports the improved proposal from Fanatics Betting and Gaming, which provides a superior price plus certainty," PointsBet Chairman Brett Paton said in a statement. Fanatics CEO Michael Rubin told CNBC after the DraftKings announcement that he was highly skeptical of their proposed offer, which he viewed as DraftKings attempting to slow Fanatics down.

Persons: Michael Rubin, DraftKings, Brett Paton, PointsBet, Jason Robins, Paton, Rubin Organizations: PointsBet's, CNBC, PointsBet, U.S, Gaming Locations: New York, Melbourne, U.S, Australia, Canada

Sports gambling powerhouse DraftKings has made a $195 million, all-cash offer for PointsBet's U.S. assets, it said on Friday, as it looks slow down the rise of Fanatics. The offer comes a month after Fanatics agreed to buy the Australian company for $150 million in an effort to boost its presence in sports gambling. "We believe DraftKings is uniquely positioned to submit this superior proposal due to our scale and corresponding ability to generate meaningful synergies from the acquisition." Fanatics CEO Michael Rubin told CNBC after the announcement that he's highly skeptical of the deal, which he views as DraftKings attempting to slow Fanatics down. "It's a move to delay our ability to enter the market," Rubin said.

Persons: DraftKings, Jason Robins, Michael Rubin, Rubin Organizations: Sports, PointsBet's U.S, CNBC Locations: United States

☆ Fanatics holds second investor day as the company moves toward IPO
▼ + stars: | 2023-06-13 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Portrait for a profile on Fanatics founder & CEO Michael Rubin at his office in downtown NYC. Fanatics held its second investor day in nearly a year as the company quietly moves closer to an initial public offering, a source familiar with the matter tells CNBC. Investors were also treated to a surprise visit by football great Tom Brady, an investor in the company. Last November, Rubin gathered sell-side analysts for a meet-and-greet and to talk about his growth plans for the company. And in April, the company announced it was hiring Deborah Crawford from Meta to lead investor relations, a new position at the company.

Persons: Michael Rubin, Goldman Sachs, Tom Brady, Brady, Rubin, Deborah Crawford, Ness Organizations: CNBC, Barclays, NBA Players Association, Philadelphia 76ers, New Jersey Devils, NFL, NHL, NBA, MLB, Topps, CNBC Disruptor Locations: York, NY, NYC, New York, Florida, Meta, U.S

☆ A pair of sports betting deals has the gaming industry asking, 'Who's next?'
▼ + stars: | 2023-05-15 | by ( Contessa Brewer | ) www.cnbc.com time to read: +1 min

Fanatics' splashy $150 million acquisition of PointsBet's U.S. business wasn't the only deal in gambling in recent days — and it could be a sign of more to come. Fanatics on Sunday announced it has agreed to buy PointsBet's U.S. assets, a long-rumored tie-up. Fanatics CEO Michael Rubin previously vowed to launch sports betting operations in every state where it's legal, except New York. For Fanatics, the deal really pays off when it comes to upfront licensing fees it would need to pay in new states. "We're really able to save tens of millions of dollars worth of upfront license fees by leveraging PointsBets footprint versus going at it with a new footprint," said Matt King, Fanatics CEO of Betting and Gaming, on Monday.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

☆ SlamBall, which combines basketball and football with trampolines, snags big investors
▼ + stars: | 2023-03-21 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Are you ready for some ... SlamBall? A star-studded lineup of investors in and around sports are jumping into the sport, which is a mashup of football, basketball and trampolines that was buzzy for a short time in the early 2000s. The investment comes as SlamBall plans to relaunch this summer, more than 20 years after the alternative sport was shut down in the U.S. as ratings fell in its second season. SlamBall recently closed an $11 million Series A funding round led by Roger Ehrenberg's IA Sports Ventures and Eberg Capital, a stakeholder in MLB's Miami Marlins. It took founder and CEO Mason Gordon and Mike Tollin – a producer behind the popular Chicago Bulls docuseries "The Last Dance" who helped launch the league the first time – nine months to secure their full roster of investors.

☆ Fanatics will become the NHL's official uniform supplier, replacing Adidas
▼ + stars: | 2023-03-21 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Fanatics will replace Adidas as the official uniform supplier for the National Hockey League starting with the 2024-2025 season, the league announced on Tuesday. The 10-year deal marks a deepening of the company's relationship with the NHL and the first time Fanatics branding will appear on official player uniforms in professional sports. Fanatics runs the NHL's e-commerce site with more than 90 million customers worldwide. In addition, Fanatics has long-standing relationships with more than 80 current and former hockey stars through its memorabilia and collectibles division. Fanatics said Tuesday it will manufacture the new NHL uniforms in Canada at the same factory that had been making the NHL's on-ice uniforms for the last three decades.

☆ Brooklyn Nets owner Clara Wu Tsai on hosting a job fair at Barclays Center to benefit those impacted by the criminal justice system
▼ + stars: | 2023-03-18 | by ( John Lynch | ) www.businessinsider.com time to read: +9 min

Clara Wu Tsai spoke to Insider about hosting a coming job fair with the Reform Alliance at Brooklyn's Barclays Center. Wu Tsai discussed the making of the event and its aim to aid individuals impacted by the criminal justice system. The Reform Brooklyn Job Fair will take place on Monday from 10 a.m. to 4 p.m. More than 4,400 job seekers have registered to attend the job fair, which will take place at the Barclays Center concourse on Monday from 10 a.m. to 4 p.m. Registration for the Brooklyn Job Fair is still open to the public.

☆ Business overall has been very good, says Fanatics CEO Michael Rubin
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBusiness overall has been very good, says Fanatics CEO Michael RubinFanatics CEO Michael Rubin joins 'Closing Bell' to discuss the business of Super Bowl merchandise, consumer spending towards sports and Fanatics revenue partnerships.

☆ Here's the 12-page pitch deck a fintech aiming to be an alternative to BNPL used to raise money from Fanatics CEO Michael Rubin and rapper Lil Baby, among others
▼ + stars: | 2023-02-09 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Kasheesh is a fintech that allows consumers to split online payments across multiple cards. Kasheesh allows users to split online payments across several debit and credit cards. Fanatics CEO Michael Rubin, rapper Lil Baby, actor Damson Idris, and entrepreneur John Terzian most recently joined the cap table in this round. On Kasheesh's web-based browser plug in, users can split any online payment across up to five debit and credit cards. Read the 12-page pitch deck Kasheesh used to raise a $3 million seed extension round.

☆ Fanatics to start livestreamed shopping of trading cards, collectibles
▼ + stars: | 2023-02-02 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

The Washington Post | Getty ImagesFanatics is moving into livestreamed shopping around collectibles and trading cards, hiring a former Snap and Alphabet executive to launch its new business later this year. Fanatics Live, which will have a standalone app and a coinciding website, plans to launch in the second half of 2023. Only 31% of U.S. adults have even heard of live shopping, with just 22% saying they've participated in a live shopping event, according to a December poll by Morning Consult. Ebay, which said it saw trading card sales increase 142% in 2020, acquired trading card marketplace TCGPlayer for $295 million in August. While Fanatics Live could move into other forms of entertainment and collectibles over time, it will solely focus on trading cards initially.

Fanatics is in discussions to acquire the BetParx sportsbook, as the sports merchandising company looks to take a bigger position in sports betting, according to people familiar with the matter. Representatives for Fanatics and BetParx declined to comment. Fanatics has been seeking a deal in the sports betting space for some time. The company is opening Fanatics Sportsbook at FedExField, the stadium of the NFL's Washington Commanders. Last year, Fanatics' billionaire executive chairman Michael Rubin sold his 10% stake in Harris Blitzer Sports Entertainment, the owner of the Philadelphia 76ers and New Jersey Devils, allowing Fanatics to enter the gambling space.

☆ New weight loss drugs trending with billionaires and celebrities are about to enter more American homes
▼ + stars: | 2023-01-20 | by ( Barbara Collins | ) www.cnbc.com time to read: +8 min

GLP-1s also have been found to help with weight loss as they make individuals who use them feel fuller for a longer period of time. Using GLP-1s drug injections for weight loss has become one of the latest ways some big names in the market are shedding extra pounds. That's why his company has launched a program to offer GLP-1 drugs and corresponding medical care to individuals struggling with obesity or weight loss issues. Pairing personalized coaching with GLP-1s is the key to effective weight loss treatment, Reitano said, and helping patients maximize their results. A new real-time approach to weight managementReitano said it should not be an either/or scenario involving diabetes management of weight loss and that will change over the next decade.

☆ Rapper Meek Mill says he was pardoned by Pennsylvania Governor Tom Wolf for 2008 charges
▼ + stars: | 2023-01-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mirna-Alsharif-Byline-Jm.Jpg | Mirna Alsharif | ) www.nbcnews.com time to read: +3 min

Rapper Meek Mill says he was pardoned by Pennsylvania Governor Tom Wolf for 2008 drugs and firearms charges that he served prison time for in 2017, according to a post on his Instagram account. One other charge is mentioned in the document as "possession of" with the rest redacted from the picture posted by the rapper. The office of Governor Tom Wolf did not immediately respond to requests for comment, but a news release published Thursday announced that Wolf issued 369 pardons this week. This brings the total pardons Wolf has issued during his time as governor to 2,540, according to the news release. His high-profile case has become a focal point for critics, including the rapper himself, calling for criminal justice reform.

☆ Damar Hamlin has Fanatics’ most-purchased jersey among all athletes across all sports
▼ + stars: | 2023-01-06 | by ( Joe Sutton | ) edition.cnn.com time to read: +2 min

New York CNN —Buffalo Bills safety Damar Hamlin, who collapsed on the field during Monday’s football game and suffered cardiac arrest, has the most sought-after jersey on Fanatics. “Damar still has the most purchased jersey among all athletes across all sports on Fanatics since Monday night,” a spokesperson for Fanatics said. The sports merchandise and memorabilia company said it would donate all proceeds from jersey sales to Hamlin’s Chasing M’s Foundation. “Fans are showing an incredible outpouring of love and support for Damar Hamlin in buying his jersey,” Fanatics co-chair Michael Rubin said in a tweet on January 3. The NFL said the Bills-Bengals game at which Hamlin collapsed would not be completed.

☆ Fanatics is divesting its 60% stake in NFT company Candy Digital
▼ + stars: | 2023-01-04 | by ( Ian Thomas | ) www.cnbc.com time to read: +3 min

Michael Rubin's sports platform company Fanatics is divesting its 60% stake in NFT company Candy Digital, according to an internal email obtained by CNBC. Candy Digital was founded in June 2021 in the middle of the sports NFT boom, competing with companies like Dapper Labs in the digital sports collectible space. It also released digital collectibles with Netflix 's Stranger Things, WWE , and several Nascar teams. Dapper Labs, the company behind NBA Top Shot and NFL All Day digital trading platforms that ranked No. "Over the past year, it has become clear that NFTs are unlikely to be sustainable or profitable as a standalone business," Rubin wrote.

☆ Fanatics salaries: Pay data shows how much the merch giant offers for tech and other jobs, as it expands into sports collectibles, betting, and more
▼ + stars: | 2022-12-21 | by ( Ashley Rodriguez | Colin Salao | ) www.businessinsider.com time to read: +12 min

Recent work-visa data shows how much the company offers to pay certain staffers. Salaries in the data ranged from $57,100 to $233,200 for mainly tech jobs in its retail division. It included base salaries for mainly tech jobs in the retail division, ranging from a data engineer position that would make $110,000 per year to a director of product management that would earn between $201,968 and $231,750 per year. For example, the data included a pay rate of $125,486 to $130,000 for an experimentation strategist position. Here were the salaries for jobs at Fanatics SPV:Director, Influencer Relations : $195,042 to $200,000: $195,042 to $200,000 Senior Platform Engineer: $144,726 to $165,000This story has been updated to reflect the latest available data.

Organizations: & $, & $

☆ Fanatics CEO Michael Rubin on $31 billion valuation and e-commerce sales
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFanatics CEO Michael Rubin on $31 billion valuation and e-commerce salesMichael Rubin, CEO and chairman of Fanatics, joins CNBC's 'Squawk Box' to discuss the strength of the consumer amid the busy holiday shopping season and the company's latest $31 billion valuation.

☆ Watch CNBC's full interview with Fanatics CEO Michael Rubin on $31 billion valuation
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Fanatics CEO Michael Rubin on $31 billion valuationMichael Rubin, CEO and chairman of Fanatics, joins CNBC's 'Squawk Box' to discuss the strength of the consumer amid the busy holiday shopping season and the company's latest $31 billion valuation. Rubin also weighs in on ESPN under returning CEO Bob Iger and more.

☆ Fanatics valuation hits $31 billion after $700 million investment round
▼ + stars: | 2022-12-06 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Michael Rubin's sports platform company Fanatics has raised $700 million in fresh capital, pushing its value to $31 billion, according to people familiar with the matter. In March, the company raised $1.5 billion led by Fidelity and Blackrock and Michael Dell's MSD Partners. This summer, Fanatics ventured deeper into collegiate sports, signing a long-term deal with Nike to manufacture college sports fan apparel. Rubin now has his eyes on the sports gaming market. Revenue for Fanatics, including its Lids segment, will be approximately $8 billion in 2023, according to company estimates.

The remarks go against expectations in the gaming industry that FanDuel will cede some of its dominance as new players work to grab a bigger share of the sports betting market. Rubin predicts sports betting and Fanatics' other business segments "could be $8 billion, even in the next decade, in profits." And FanDuel boasts a 42% market share, based on published reports by state gaming regulators. Of the 59 sports betting operators in the U.S. in October, only three had double-digit market share. "Almost 90% of the operators have a sub-2% share of the market," Howe said.

☆ Law firms that make billions fighting injuries and frauds are very hush-hush about what they pay. Here are the starting salaries at 19 firms from Altshuler to Wigdor.
▼ + stars: | 2022-11-08 | by ( Jack Newsham | ) www.businessinsider.com time to read: +8 min

Many plaintiffs' firms pay somewhere in between. Despite more law firms increasingly paying their top earners like professional athletes, many law school grads only make between $50,000 and $80,000 a year. Things do appear to be changing as more plaintiffs firms seek to compete with Big Law firm talent. But firms like Edelson that pay as much as Big Law firms are the exception. For more information on how these law firms pay, see our table below:Do you have more information on how plaintiffs' firms pay their lawyers?

Organizations: & $

☆ Fanatics hires its first chief people officer as Michael Rubin's sports business giant expands
▼ + stars: | 2022-10-27 | by ( Riley De León | ) www.cnbc.com time to read: +2 min

Ashford will report directly to both CEO Michael Rubin and CFO Glenn Schiffman. Each of the three Fanatics' businesses — commerce, collectibles, betting & gaming — have heads of HR that report to those respective business CEOs. Prior to joining Fanatics, Ashford was a strategic advisor to private-equity firm Sycamore Partners. He's currently the chairman of the board of pharmaceutical company Perrigo , and sits on the board of Syndio — a private, venture-backed HR tech company. Last week, Fanatics announced it hired Andrea Ellis to be the chief financial officer of its betting and gaming division, which is expected to launch in January.

☆ LeBron James, Kevin Durant and other big names invest in Fanatics lifestyle brand Mitchell & Ness
▼ + stars: | 2022-10-25 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Some of the biggest names in sports and entertainment are investing in Fanatics' lifestyle clothing brand, Mitchell & Ness. The new owners said they plan to make Mitchell & Ness "the most diverse and culturally relevant consumer brand" through their influence and status as tastemakers. Mitchell & Ness is a true classic," he said in February. "I'm proud to play a small role in bringing it back, and in some cases, introducing the authenticity and quality of the Mitchell & Ness brand to a new generation," he added. In June, Mitchell & Ness signed a rights deal to manufacture products for all 32 NHL teams.

The sports platform and e-commerce company, which has been valued at more than $27 billion, said Tuesday it hired Andrea Ellis to be the chief financial officer of its betting and gaming division. Fanatics CEO Michael Rubin said last week the company expects to launch the unit in January. At Fanatics, she will be tasked with scaling the new division and providing strategic and operational leadership, the company said. She'll report to Matt King, Fanatics Betting and Gaming CEO, who previously was CEO at FanDuel. Rubin predicts sports betting and Fanatics' other business segments "could be $8 billion, even in the next decade, in profits."

Search resuls for: "Michael Rubin"

25 mentions found