Fanatics Stock and IPO Recent News
01/04/2023: Fanatics is divesting its 60% stake in Candy Digital (NFTs)
12/06/2022: Fanatics Hits $31 Billion Valuation in Latest Funding Round
10/18/2022: Fanatics Hires Finance Chief for Its Sports-Betting Division
07/13/2022: Nike and Fanatics partner to manufacture NCAA fan apparel
06/23/2022: Fanatics is in talks to buy sports betting company Tipico
06/22/2022: Fanatics CEO selling ownership stake in 76ers, NJ Devils
04/11/2022: Fanatics wants to be a $100 billion company
04/07/2022: NFL Reportedly Invests $320M Into Fanatics’ Latest Round
What is Fanatics?
Fanatics is an eCommerce business selling licensed sports apparel, equipment, and trading cards through its website and Walmart.com. The company has secured licensing agreements with most of North America’s professional sports leagues and many top global sports brands worldwide.
Michael Rubin, Fanatics’ founder, previously founded Global Sports Incorporated (later changing its name to GSI Commerce) in 1998 with funding secured from Softbank. He sold GSI Commerce to eBay in 2011 for $2.4 billion.
He later bought back the eCommerce business, which included exclusive licensing relationships, and changed the brand name to Fanatics.
Fanatics has raised several private funding rounds from investors, including the National Football League (NFL), Major League Baseball (MLB), the National Basketball Association (NBA), and Major League Soccer (MLS). The company often pairs substantial equity partnerships with exclusive licensing.
The strategy has powered Fanatics to significant pre-IPO valuations over the past five years.
Rubin is also a co-owner of the Philadelphia 76ers and the New Jersey Devils. But as of June 2022, he is looking to divest those assets to allow Fanatics to enter the sports betting market.
Fanatics is headquartered in Jacksonville, Florida, with offices in New York, Manchester, U.K., and Boulder, Colorado.
Is Fanatics Publicly Traded?
No. Fanatics is a private company.
CEO Michale Rubin said on CNBC in March 2021:
I think going public is an option for us that we talk about a lot, but it’s not something we’re focused on today. We’re focused on building a business. But I think we’re well-financed and have a lot of growth capital to continue to grow.
CNBC reported in April 2022 that a source told them “the company doesn’t plan to go public this year”. This is likely due to unfavorable market conditions.
However, Fanatics has a highly-distributed investor base and significant private valuation, making it a likely IPO candidate within the next 6-24 months.
CNBC also reported in December 2022 that CEO Rubin met with more than 90 Wall Street analysts to discuss growth plans.
Who Owns Fanatics?
Fanatics is a venture-backed private company. Its investors include the founders, employees, venture capital firms, sports leagues, and professional athletes.
The company has conducted funding rounds, often pairing ownership stakes with exclusive licensing partnerships with sports leagues.
Fanatics has raised more than $4.7 billion in equity financing to fuel expansion.
The latest round, led by Clearlake Capital was completed in December 2022. The company raised $700 million at a $31 billion valuation.
That followed an April 2022 raise of $1.5 billion at a $27 billion valuation.
Prominent venture capital investors include SoftBank, Fidelity, Andreessen Horowitz, Blackstone, Thrive Capital, Franklin Templeton, Neuberger Berman, Alibaba, Silver Lake, Insight Partners, and Temasek Holdings.
Other well-known investors include Michael Dell, Peyton Manning, Jay-Z, the NFL, MLB, MLS, the NBA, the MLB Players Association, and the NFL Players Association.
When is the Fanatics IPO Date?
The Fanatics IPO date is currently unknown.
The December 2022 funding round raises the stakes as the company enters the online gambling market in 2023. Early investors may look for more liquidity after watching the company value rise to $31 billion.
Fanatics has not yet filed for an IPO with the Securities and Exchange Commission (SEC).
The broader IPO market has slowed dramatically in 2022, making it more difficult for startups to enter the public markets. Fanatics missed the favorable IPO window in 2020-2021.
However, Fanatics’ surging private valuation makes it a likely IPO candidate in the next 6-24 months.
Sources have told CNBC that an IPO is unlikely to happen in 2022, making 2023 or early 2024 a reasonable timeline.
But private investors will eventually run out of patience and want to liquidate their investments via an IPO.
We won’t get a better sense of when the Fanatics IPO will be until we learn of the hiring of an underwriter, an S-1 filing (public or confidential), or an IPO date range that reaches the press.
What is the Fanatics Stock Symbol? Fanatics Ticker?
Fanatics is still a private company, so there is no Fanatics stock symbol yet.
Here are a few Fanatics ticker suggestions that appear to be available in the U.S.:
What is the Fanatics Stock Price?
There is no Fanatics stock price yet. The company is private.
Can You Buy Fanatics on Pre-IPO Marketplaces?
The author has not seen evidence of Fanatics stock availability on prominent pre-IPO investing platforms based in the U.S.
However, shares may become available if early investors or employees want to cash out before the IPO. This may become more likely if the company raises another round of private equity capital.
The SEC requires pre-IPO investors to be accredited, meaning a net worth above $1 million (not including primary residence) or an income above $200,000 (or $300,000 with a spouse).
Check out our list of top pre-IPO investing platforms for current share availability.
How to Invest in Fanatics Stock
Since Fanatics is not a public company, it is challenging to become an equity owner today.
However, you can take action to improve your chances of early equity ownership or acquire shares in the IPO.
Otherwise, you’ll need to be patient for shares to begin trading after the IPO.
1. Buy Fanatics on Pre-IPO investing platforms
The author has not yet seen evidence of Fanatics being available on pre-IPO platforms.
However, investors can monitor pre-IPO investing platforms for future availability.
If shares become available, expect to pay at least a $10,000 investment minimum. It’s free to sign up for access and alerts.
Many pre-IPO investing platforms empower users to indicate interest in companies they wish to invest in.
If enough investors indicate interest in a particular company, the pre-IPO platforms may actively reach out to equity holders to try to acquire shares for accredited investors.
As companies mature, gain more shareholders, and delay their IPO due to macro conditions, more equity holders may seek liquidation before the IPO.
2. Buy during the Fanatics stock IPO through a participating broker
Savvy IPO investors may find opportunities to invest during the IPO. That means acquiring shares at the IPO price the night before the company begins trading.
Once reserved for Wall Street’s wealthiest customers, IPO access has become more attainable to retail investors in the past five years.
Brokers often negotiate exclusive IPO share allocations to retail investors. Your access to specific high-demand IPOs may be limited by how many brokerage accounts you have and what broker gets exclusive access.
TradeStation and Webull have a longer track record of accessing more than 200 IPOs and secondary offerings via their partnership with ClickIPO.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy Fanatics stock after the Fanatics IPO
Though waiting for the IPO requires patience, there are advantages to waiting for the stock to become publicly traded before owning.
First of all, the IPO allows investors to review financials. Pre-IPO investing has limited financials available.
Second, IPO stock prices typically rise with high-demand companies. You can benefit if you’re in early and sell when the price overheats.
Many IPOs start with an immediate price increase (“the pop”). Then the stock falls once quarterly earnings reports become available.
In 2021, both Rivian and Robinhood became high-flying IPO stocks. But six months after the IPO, both stocks were more than 80% below their price peak.
The stock price declines after the IPOs could become excellent entry points if you were not allocated IPO shares.
Avoid buying overvalued shares immediately after the IPO. Shares often fall after the IPO due to lockup expirations and quarterly earnings disappointments.
However, the most disruptive companies will be higher in a decade. Patience pays.
Where can I find the Fanatics IPO S-1 Filing?
Fanatics has not yet submitted an S-1 filing to the SEC. When the company does, we’ll share it here.
In the meantime, you can check out the most recent S-1 filings in our S-1 filings feed.
Fanatics News Archive
01/03/2022: Fanatics to buy iconic trading-card company Topps
03/02/2022: Fanatics hits $27 billion valuation
08/10/2021: Fanatics now valued at $18 billion with new investors (Jay-Z)
03/24/2021: Fanatics valuation doubles to $12.8 billion after a new round
12/07/2020: Fanatics acquires WinCraft, a company that makes sports-themed merchandise
08/13/2020: Web Retailer Fanatics Raises $350 Million Amid Rebound in IPO Market ($6.2 billion valuation)
08/08/2017: Sports e-commerce firm Fanatics closes $1 billion funding round led by SoftBank ($4.5 billion)
Investors get excited when they identify companies riding extraordinary macroeconomic trends. This can lead us to private companies positioning to profit from massive opportunities.
However, buying the stock early on can often prove difficult for retail investors.
Though pre-IPO investing platforms have opened more opportunities, private equity investing is still primarily reserved for the ultra-wealthy, requiring millions to invest in seed and early funding rounds for disruptive companies.
So if you pursue IPO shares and early equity, maintain reasonable expectations. However, if you identify several favorite IPO companies, you may eventually be able to invest in some of your target companies.
If Fanatics stock is on your radar, good luck. Invest in pre-IPO and IPO companies with caution.
* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long SG, HOOD, RIVN, BEN.