I cofounded a daily fantasy sports site in 2004, so it's funny to see FanDuel's 2009 launch date described as "early to market". But the environment for fantasy sports in 2004–2005 was incredibly different, with the major leagues often showing overt hostility (including the NFL Players Association suing a company for using the players' names without permission). It's yet another example of how big a factor timing can be in the startup game.
Interesting that the revenue share of winnings is projected to remain 10%. This suggests players don't value playing on a site that takes a smaller percentage of the game - or that the sites collude. Do any of the companies that occupy the 5% of the market not Fanduel/Draftkings try to differentiate based on cost?
So it's perfectly kosher to list big-time "investors" when your company gives them free equity? I was always under the impression that MLB, NFL, etc. voluntarily ponied up to invest in DraftKings.
[+] [-] mhartl|10 years ago|reply
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[+] [-] pcprincipal|10 years ago|reply