DraftKings is an online fantasy sports provider. They are also in the sports betting space. Last year they purchased long-time sports betting industry heavy-weight SBTech, shoring up their position in this market.
One day after shareholders agree to go public, Draftkings did just that. They chose the Nasdaq stock market, a market known for their tech stocks.
DraftKings symbol is DKNG. In a company letter, Draftkings stated “this marks the start of a new era for us. One that includes full control of our backend technology and trading platform with our acquisition of SBTech.”
DraftKings was started 8 years ago and was one of the first companies to bring DFS (Daily Fantasy Sports) to the mainstream. Since then they have expanded greatly.
They end the letter with “We are excited for the innovation, new products and expanded reach that going public will afford us. It is an honor to continue on this adventure with you, and we very much look forward to what the future will bring.”
