PrizePicks continues to have record months in early 2021 and expands leadership team with category growth in mind
ATLANTA, June 17, 2021 / PRNewswire / – PrizePicks, the largest independent fantasy sports company, continued its significant momentum in the second half of 2020, today announcing three key additions to its executive team and setting a roadmap for creating 1,000 new jobs in the state. fixed Georgia. The announcements come amid a series of 10 consecutive months of record growth while remaining profitable throughout 2021 to date.
Annualized Recurring Revenue Exceeded $ 20 million for PrizePicks in May, which represented the tenth consecutive month of record-breaking growth for the company after the company significantly increased its monthly sales per customer in the first quarter and significantly exceeded DFS and betting industry.
“Our business model allows us to break even within the first 2-3 months of our mixed customer acquisition costs and we have focused on a healthy mix of debt and equity financing to fuel our growth through the pandemic,” said PrizePicks CEO Adam Wexler. “Back to ours Atlanta Headquarters in April was not only a sign of further development, but also of the expansion of this team, both as a company and as a member of the Georgia Business community. “
PrizePicks officially announced three major additions to the team:
- Mark Irace, Interim CMO: Irace is a 30 year old marketing executive best known for helping FanDuel get from $ 5 million to $ 175 million in revenue. He was also the director of marketing for a number of other successful emerging B2C brands, including ProFlowers and Shari’s Berries.
- Ari Koteles, SVP Finance: Koteles will help guide the development and implementation of complex corporate strategies. Before joining the PrizePicks team, he spent four years at the customer marketing platform MessageGears as Vice President / Head of Finance for major brands such as Expedia and GEICO. Koteles also served on the corporate finance and M&A teams at Turner, a Time Warner company.
- Bonnie Adams, Head of Human Resources: Adams joined the team in March after previous chapters at Ionic Security that raised money from tier 1 venture capital firms like Andreessen Horowitz and Google Ventures before they were eventually sold to Twilio. She was also at Storj Labs, which a $ 30 million ICO.
The success of PrizePicks, which was recently named in the top 50 of the Atlanta Inno Fire Awards, has been a variety of platform and business milestones including:
- The addition of a “Single Stat DFS” over / under forecast format that dramatically expands the total addressable market with the popular 5-Pick Flex entry type that increases count per member and retention.
- New sports offers in golf, cricket and disc golf as well as expansion of the dominant eSports position of PrizePicks with now five top titles
- Geographic expansion currently covering 70% of the US population including the recent addition of the state Alabama in conversation with the company’s focus on the south
- Renewal of successful partnership with the Atlanta Braves and a recently completed renewal with the Miami Marlins
One of the more notable strengths of PrizePicks is the ability to sell its customers from one sport to another. Those who originally deposited to play at PrizePicks NFL were 80% more likely to move to other sports markets than the same segment for DraftKings. In addition, the operator’s presence in digital sports has grown. PrizePicks has proven its success in esports by attracting new customers with innovative markets for popular titles such as Call of Duty, Rocket League and VALORANT, while redesigning its esports membership base to make its traditional sports offerings 200% higher than that bigger companies play. In space.
“Adam and his team have built a dynamic, healthy company with endless opportunities and I am very excited to be part of the next phase,” said Irace. “The company’s ability to adopt new sports and cross-sell at prices higher than the industry opens up many opportunities for affiliates and channels.”
PrizePicks is the funniest, fastest, and easiest version of everyday fantasy sports, covering a wide variety of sports leagues, from the NFL and NBA to League of Legends and Counter-Strike. Centered on over / under predictions of fantasy point projections, PrizePicks allows sports fans to play against the numbers, not against each other. PrizePicks is currently the closest legal alternative to legal mobile sports betting in most countries The United States including top 10 markets like Georgia, Florida & Texas. With an existing digital footprint covering more than 3/4 of the US population, PrizePicks is the most accessible type of game to the masses. The company is based in Atlanta, and PrizePicks is the third product of Performance Predictions, a suite of fan engagement solutions, including SidePrize, which was named Rookie of the Year in 2016 by the Fantasy Sports & Gaming Association. PrizePicks is available on the App Store and Google Play or on prizepicks.com.
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