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DraftKings
DraftKings Inc. is an American gambling company based in Boston, Massachusetts. It offers sportsbook and daily fantasy sports (DFS) services.
The company was originally launched in 2012 as a DFS provider, competing principally with the New York–based FanDuel. In May 2018, amid the widening legalization of sports betting in the United States, DraftKings began to expand into online and retail sportsbooks to leverage its brand awareness and customer base.
DraftKings became a publicly traded company through a reverse merger with SBTech, a Bulgarian technology company, and special-purpose acquisition company Diamond Eagle Acquisition Corp in April 2020.
DraftKings was established in 2012 by Jason Robins, Matthew Kalish, and Paul Liberman, former Vistaprint employees. The company initially operated out of Liberman's house. The company's first product was a one-on-one baseball competition, launched to coincide with Major League Baseball's opening day in 2012.
In April 2013, Major League Baseball invested in DraftKings, becoming the first US professional sports league to invest in daily fantasy sports. The investment was not disclosed at the time.
In February 2014, it was reported that the company awarded $50 million in prizes in 2013 to players in weekly fantasy football, daily fantasy baseball, daily fantasy basketball and daily fantasy hockey. The company also reported 50,000 active daily users and as many as one million registered players.
In July 2014, it announced the acquisition of rival DraftStreet, owned at the time by IAC, the third largest player in the fantasy sports space. The acquisition reportedly increased DraftKings' user base by 50%. The company announced it would keep the DraftStreet NY office open and retain some employees.
In August 2014, the company announced $41 million in funding from a variety of investors, including the Raine Group, as well as existing investors Redpoint Ventures, GGV Capital, and Accomplice. The company also announced that it was acquiring the assets of Somerville, Massachusetts, competitor StarStreet.
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DraftKings
DraftKings Inc. is an American gambling company based in Boston, Massachusetts. It offers sportsbook and daily fantasy sports (DFS) services.
The company was originally launched in 2012 as a DFS provider, competing principally with the New York–based FanDuel. In May 2018, amid the widening legalization of sports betting in the United States, DraftKings began to expand into online and retail sportsbooks to leverage its brand awareness and customer base.
DraftKings became a publicly traded company through a reverse merger with SBTech, a Bulgarian technology company, and special-purpose acquisition company Diamond Eagle Acquisition Corp in April 2020.
DraftKings was established in 2012 by Jason Robins, Matthew Kalish, and Paul Liberman, former Vistaprint employees. The company initially operated out of Liberman's house. The company's first product was a one-on-one baseball competition, launched to coincide with Major League Baseball's opening day in 2012.
In April 2013, Major League Baseball invested in DraftKings, becoming the first US professional sports league to invest in daily fantasy sports. The investment was not disclosed at the time.
In February 2014, it was reported that the company awarded $50 million in prizes in 2013 to players in weekly fantasy football, daily fantasy baseball, daily fantasy basketball and daily fantasy hockey. The company also reported 50,000 active daily users and as many as one million registered players.
In July 2014, it announced the acquisition of rival DraftStreet, owned at the time by IAC, the third largest player in the fantasy sports space. The acquisition reportedly increased DraftKings' user base by 50%. The company announced it would keep the DraftStreet NY office open and retain some employees.
In August 2014, the company announced $41 million in funding from a variety of investors, including the Raine Group, as well as existing investors Redpoint Ventures, GGV Capital, and Accomplice. The company also announced that it was acquiring the assets of Somerville, Massachusetts, competitor StarStreet.