Last week, Boston got its second billion-dollar “unicorn” in tech, SimpliVity (the other company is Actifio).
Now, it looks like Boston daily fantasy sports juggernaut DraftKings could be the next to join the sort-of-exclusive club. Dan Primack reports for Fortune that DraftKings is working on a new funding deal that would give the company a valuation of at least $1 billion. Walt Disney Co.—parent company of ESPN—is among the likely investors, Primack reported.
Unlike traditional fantasy sports — characterized by season-long leagues — daily fantasy sports sites offer competitions that last as little as a day. Users can also play for real cash.
DraftKings generated revenue of $30 million last year is vying with New York-based FanDuel for dominance of the daily fantasy sports market.
DraftKings just raised $41 million in August, and since its founding in 2011, the company has amassed $75 million in total from investors. Backers include Atlas Venture, The Raine Group, Redpoint Ventures and GGV Capital.
Photo courtesy of DraftKings.
