"
Finance

Is Fanatics a Public Company?

Fanatics, a global e-commerce platform for licensed athletic merchandise, aims to appeal to “fanatics” fiercely devoted to their chosen teams. If you love expressing your passion for a team and a sport through apparel, Fanatics is the place to go.

Fanatics offers branded sports team apparel for all major professional sports leagues (NFL, MLB, NBA, NHL, NASCAR, MLS, and PGA) and many college and other pro teams. The company has a partnership with JCPenney retailers to sell branded Fanatics sports merchandise. It’s expanding to become a multi-business digital platform.

Fanatics’ fundraising rounds

In Mar. 2021, Fanatics conducted a major fundraising round that gave it $320 million and more than doubled its previous valuation of $6.2 billion to $12.8 billion.

Article continues below advertisement

Source: Fanatics Facebook

This month, the company announced a $325 million raise from new investors such as Jay-Z’s Roc Nation LLC and previous investors. The latest round brings Fanatics’ valuation to $18 billion.

Article continues below advertisement

Leading this latest round were Silver Lake, Fidelity Investments, Franklin Templeton, Neuberger Berman, Josh Kushner’s Thrive Capital, and Major League Baseball. Michael Rubin, the founder and executive chair of Fanatics, is also a part-owner of the Philadelphia 76ers and New Jersey Devils.

View more information: https://marketrealist.com/p/is-fanatics-a-public-company/

See more articles in category: Finance
See also  What Is NIO’s Stock Forecast for 2030? Catalysts, Explained

Leave a Reply

Back to top button