American Online Sports Giant Fanatics Raised $700 Million at $31 Billion Valuation, Founder Michael Rubin Who Sold GSI Commerce to eBay in 2011 for $2.4 Billion Now Worth More than $10 Billion
9th December 2022 | Hong Kong
American online sports giant Fanatics has raised $700 million at $31 billion valuation, with billionaire & founder Michael Rubin who sold GSI Commerce to eBay in 2011 for $2.4 billion now worth more than $10 billion. The new investors include Clearlake Capital & LionTree, with existing investors Silver Lake, Fidelity and Softbank also participating in the investment round. Fanatics was acquired in 2011 by Michael Rubin from founders Alan and Mitchell Trager to GSI Commerce, which was acquired by eBay in the same year 2011. With Michael Rubin selling GSI Commerce to eBay, he acquired the sports e-commerce business of GSI Commerce from eBay. Michael Rubin had founded Global Sports Incorporated in 1998, and renamed GSI Commerce thereafter. Today, Fanatics is a leading online manufacturer & retailer of licensed sportswear, collectibles and sports betting and gaming. Fanatics revenue forecast for 2023 is around $8 billion. Fanatics’ partners include all major professional sports leagues (NFL, MLB, NBA, NHL, NASCAR, MLS, PGA) and hundreds of collegiate and professional teams, which include several of the biggest global soccer clubs.
“ American Online Sports Giant Fanatics Raised $700 Million at $31 Billion Valuation, Founder Michael Rubin Who Sold GSI Commerce to eBay in 2011 for $2.4 Billion Now Worth More than $10 Billion “
About Fanatics Inc
As a global leader in licensed sports merchandise, Fanatics is building the leading global digital sports platform and changing the way fans purchase their favorite team apparel, jerseys, headwear and hardgoods through an innovative, tech-infused approach to making and quickly distributing fan gear in today’s 24/7 mobile-first economy. Operating multi-channel commerce for the world’s biggest sports brands, Fanatics offers the largest collection of timeless and timely merchandise whether shopping online, on your phone, in flagship stores, in stadiums or on-site at the world’s biggest sporting events.
Through Fanatics’ innovative commerce capabilities and cutting-edge tech platform, the company has assembled one of the best databases of fans globally which is now being leveraged across the broader sports ecosystem to build new, large-scale digital sports businesses outside of merchandise. Fanatics is the majority owner of Candy Digital, a next generation digital collectibles company that is partnering with prominent sports properties – including MLB and MLBPA – to build an official NFT ecosystem where fans and collectors come to purchase, trade and share officially licensed NFT’s. Additional ventures that will build out Fanatics’ footprint across the broader digital sports landscape will be announced in the coming months.
Fanatics’ partners include all major professional sports leagues (NFL, MLB, NBA, NHL, NASCAR, MLS, PGA) and hundreds of collegiate and professional teams, which include several of the biggest global soccer clubs. In addition to e-commerce, the capabilities of Fanatics include omnichannel-integrated physical retail operations across a broad portfolio of flagship stores, team retail and special events; international capabilities that provide a global sports retail platform; and an in-house merchandise and manufacturing division that is a licensed partner of professional and collegiate teams and helps fans express passion through a broad range of apparel and non-apparel products created under the Fanatics, Nike, Top of the World, Majestic and WinCraft brands.
As a leading global digital sports platform, Fanatics is committed to making a positive impact in the communities where we all live, work and play through strategic philanthropic initiatives. As a market leader with more than 8,000 employees and over 300 partners, suppliers, and vendors in 11 countries, we also take responsibility for driving toward more ethical and sustainable practices.
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