Yahoo to Integrate Wagr into Yahoo Sports After Acquisition
LISTEN TO THIS ARTICLE:Yahoo has announced its acquisition of the peer-to-peer sports betting platform, Wagr, which will pave the way for the integration of the business into its Yahoo Sports division.
Wagr is the first social sports betting company to be licensed in the United States. The platform prides itself on offering mobile-optimized products and creating enjoyable experiences for its customers.
Although much of the acquisition terms remain undisclosed, Yahoo had stated that the integration of Wagr into its sports division will further bolster its fantasy and gaming portfolio.
Wagr stands out for their innovative emphasis on community and social engagement in sports gaming, which aligns perfectly with the Yahoo award-winning fantasy platform that has brought tens of millions of fans together around their love of sports for over 20 years.
In its second year of establishment, Wager attracted several high-level investments from Seven Seven Six, a firm owned by Alex Ohanian, Reddit co-founder, as well as from Greysoft, Pear Ventures, Tinder Co-founder Justin Mateen, and former Chairman and Chief Exclusive Officer of Saks Inc., Brad Martin.
Yahoo Sports offers us a stage to build products that will reach millions of loyal fans that have connected over fantasy sports for decades. The unique combination of Yahoo's scale and engagement creates opportunities for virtuous product loops between sports media and gaming.
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