Retail

Fanatics valued at $18 billion with new investors including Jay-Z

0


Fanatics Founder/Executive Chairman Michael Rubin attends Fanatics Super Bowl Party at College Football Hall of Fame on February 2, 2019 in Atlanta, Georgia.

Mike Coppola | Getty Images

Sports merchandise company Fanatics secured a $325 million money raise to expand into new sectors within its parent umbrella. It’s now valued at $18 billion, sources told CNBC.

The Florida-based e-commerce firm plans to focus on revenue streams outside of merchandising. The division will be led by Fanatics Chairman Michael Rubin, who will serve as chief executive officer. Fanatics claims it will make $3.4 billion in revenue this year, according to The Wall Street Journal.

Fanatics is seeking new opportunities…



Source cnbc.com

0 0 votes
Article Rating

Activist fund Starboard helps data center firm Cyxtera close its valuation gap via SPAC merger

Previous article

McLaren F1 sells for $20.5 million, the most expensive car auctioned this year

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Retail