Sports-merchandising and e-commerce company Fanatics Inc. (FANA) is said to be valued at $27B in in its latest fundraising round, up from $18B in August.
Fanatics, majority owned by CEO Michael Rubin, raised $1.5B in latest found raising round from investors including Fidelity Management, funds managed by BlackRock (NYSE:BLK) and Michael Dell’s family office, known as MSD Capital LP, according to a WSJ report.
Fanatics has had a big increase in its valuation since August when it raised $325M in fundraising from investors including SoftBank Group Corp.’s Vision Fund to be valued at $18B. About a year ago, Fanatics was valued at $12.8B after getting funding from Major League Baseball, Silver Lake, Fidelity and other investors.
Fanatics has said that an IPO could come at some point, though it hasn't said anything about timing, according to the WSJ.
Fanatics in early January purchased Topps trading cards business in a deal said to be valued at more than $500M. Fanatics reportedly raised $350M for its trading card business, Fanatics Trading Cards, in a new funding round last year that valued the venture at $10.4B.