Fanatics raises $1.5 billion in a funding round with Michael Dell and BlackRock that values the sports merchandise company at $27 billion.
Michael Rubin's Fanatics has raised $1.5 billion in a new funding round that values the sports merchandise company at $27 billion.
Its latest funding round includes new investors Fidelity, BlackRock and Michael Dell's MSD Partners, as well as existing investors.Michael Rubin's Fanatics raised $1.5 billion in a new funding round that values the sports merchandise company at $27 billion. The company wasIts latest funding round includes new investors Fidelity, BlackRock and Michael Dell's MSD Partners, as well as existing investors.
was first reported by the Wall Street Journal. A source familiar with the deal confirmed the details to CNBC.Rubin, co-owner of the Philadelphia 76ers and New Jersey Devils, started the Jacksonville, Florida-based company in 2011. That same year, he sold a sports e-commerce business to eBay for $2.4 billion, bought back parts of it and acquired Fanatics — which back then was a two-store retail operation.
Fanatics is a two-time CNBC Disruptor 50 company. Sign up for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at private companies like Fanatics, and founders like Rubin who continue to innovate across every sector of the economy.
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