A sports startup CEO explains how he's cutting costs and retooling his business to avoid layoffs
Yasin Abbak is the CEO of Fantasy Life, a sports startup cofounded by personality Matthew Berry that provides breaking-news alerts and sports information to gamblers and fantasy-sports players.
Abbak said Fantasy Life has enough capital to make it through the fall football season, and is strategizing about how to extend that runway. The company was preparing to launch breaking-news offerings around basketball and baseball this year, and exploring potential revenue streams like affiliate relationships with sportsbooks, when the coronavirus pandemic shut down most live sports.
Fantasy Life, for example, has never had an office space. Its seven full-time employees work remotely. "They should be treating their funding like college kids on a budget," Abbak said. "You shouldn't be spending where you can't afford to spend."
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