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Fanatics has nearly tripled in value over the last year. Now, the e-commerce giant wants to expand into new businesses like sports betting, ticketing and media.
Driving the news: Fanatics closed a $325 million funding round last week that values the company at $18 billion, making it the world's 12th-most valuable private company, per CB Insights.
The top 12 include:
How it works: Founded in 1995, Fanatics achieved "decacorn" status ($10+ billion valuation) by controlling the sports apparel supply chain. Jersey sales go through them, period. And they don't just sell clothes — they make them, too.
The bottom line: Fanatics will eventually go public. Until then, there appears to be one goal as a private company: Try to take over the world.
Shoshana Gordon/Axios
As sports betting emerges from the shadows and steps into the light, it's seeping into every aspect of fandom.
The state of play: How fans watch games, where fans watch games, how media covers those games — it's all being transformed quite rapidly.
A view of the Caldor Fire in El Dorado County, California, around 1 p.m. PST on Aug. 17. Photo: U.S. Forest Service.
Red flag warnings are in effect over a vast stretch of the West — including California, Nevada and Montana, prompted by projected strong winds, high temperatures and drought conditions.
The latest: In Northern California, where fuel moisture and flammability are especially conducive to extreme wildfire behavior, the rapidly growing Caldor Fire prompted mandatory evacuation orders to be issued late Tuesday, as it threatened homes in and around the El Dorado County town of Grizzly Flats.
Texas Democratic State Sen. John Whitmire during a July news conference at the Texas State Capitol in Austin, Texas. Photo: Sergio Flores/Bloomberg via Getty Images
The Texas Supreme Court ruled Tuesday evening the state's House Democrats can be arrested if they don't attend the state Capitol due to their efforts to stop a Republican push to pass voting restrictions.
Why it matters: While the court has already blocked lower court orders in Travis and Harris counties protecting the Democrats, this ruling stipulates that under the state Constitution House leaders can compel members to attend the chamber to conduct legislative business. Consequently, those who do not attend can be arrested.

source

Por redditxxx