Fanatics raised $325 million in additional capital, including an investment by a high-profile celebrity, as the Jacksonville-based merchandising company seeks to expand into new businesses such as sports gambling, several major financial news outlets reported Aug. 10.
The latest round of funding increases the valuation of the company, which started with a single store in the Orange Park Mall in 1995, to $18 billion, they said, citing unidentified sources. Fanatics is a global leader in licensed sports merchandise.
The Wall Street Journal reported Fanatics expects revenue of $3.4 billion this year, up from $2.6 billion in 2020.
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