If you’ve been keeping up with the sports world, you may have noticed that Genius Sports went public earlier this year. But when did this happen exactly? And what does it mean for the future of the company?
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History of the company
The company was founded in 2000 by Mark Livie and Tom Kingston, two former professional rugby players. Genius Sports started out as a provider of data and statistics for the sport of rugby union. In 2006, the company expanded into other sports such as cricket, football, and basketball.
In 2015, Genius Sports signed a deal with the National Basketball Association (NBA) to become the league’s official provider of live statistics. The following year, the company partnered with Major League Baseball (MLB) to provide live game data to baseball fans around the world.
Genius Sports files for an IPO on the London Stock Exchange in 2019 and is valued at $1.5 billion at the time of its listing.
What they do
Genius Sports is a sports data and technology company that provides observation, data collection, distribution, and betting solutions for the global sports industry. The company was founded in 2000 and is headquartered in London, England.
In 2015, Genius Sports launched Sportlytics, a player tracking system that uses sensors to collect data on player movements during a game. The data is then analyzed and used by coaches to improve player performance.
In 2016, the company acquired Opta Sports, a leader in sports data intelligence. The acquisition strengthened Genius Sports’ position as a provider of sports data and technology solutions.
In 2019, Genius Sports went public on the London Stock Exchange.
Why they went public
In September 2020, Genius Sports went public on the London Stock Exchange. The move valued the company at £1.6 billion ($2.1 billion).
The company provides sports data and technology to bookmakers, broadcasters, and leagues around the world. It was founded in 2000 and is headquartered in London.
Genius Sports has been on a growth tear in recent years, thanks in part to the boom in legal sports betting in the United States. The company raised $227 million in a private funding round in 2019, and its revenue grew by 55% to $145 million that year.
Going public will give Genius Sports a war chest of cash to help fuel its expansion plans. The company said it plans to use the proceeds from the IPO to pay down debt and for general corporate purposes.
How they went public
In September of 2020, Genius Sports went public on the London Stock Exchange. Prior to this, the company had been privately owned with a wide variety of investors. These investors included several high-profile names such as Joe Lewis, the owner of the Tampa Bay Buccaneers, and Stephen Rubin, the owner of JD Sports.
The company had been planning to go public for several years and had filed for an initial public offering (IPO) in 2019. However, due to market conditions, the IPO was postponed. After going public, Genius Sports was valued at approximately $2 billion.
What has happened since they went public
Since going public in September 2020, Genius Sports has continued to innovate and expand its reach in the sports data and analytics industry. The company has acquired several new partners and clients, including the National Football League (NFL) and NCAA, and has launched new products such as Genius Sports Media, an AI-powered content platform. Additionally, Genius Sports has strengthened its position as a leader in data-driven sports betting solutions through partnerships with leading sportsbooks in the United States and Europe.