NEW YORK: Sports merchandise behemoth Fanatics has doubled its valuation in just eight months, on the back of a fresh $320 million funding round.
CNBC reported on Wednesday (March 24) that Fanatics’ valuation has risen from the $6.2 billion it was worth last August to $12.8 billion today after the e-commerce giant completed a fresh $350 million Series E round.
The new funding will allow Fanatics to “expend its vertical commerce division, explore additional mergers and acquisitions and expand internationally”, the business news channel reported.