Chicagoan agreement
Sports betting social media network the Betsperts Group has snapped up fellow Chicago-based firm Bleacher Nation in a cash plus equity transaction.
a database of more than 25 million users
Betsperts did not announce the cash value of the deal with Bleacher Nation but, according to a Wednesday statement, the acquisition includes a database of more than 25 million users and more than 225 million page views in the last year.
Betsperts took to Twitter the same day to welcome the sports news website into its fold:
Betsperts Group CEO Reid Rooney expressed his firm’s readiness to work with Bleacher Nation and expand its content reach, adding that the newly acquired firm “has built an incredible relationship with Chicago fans and sports fans all over the world.”
A growth spurt
Betsperts, which provides content, analytics and advice to sports bettors, has enjoyed significant growth since closing two seven-figure funding rounds in 2020. This was followed by a $6m hike in 2021 and revenue growth of 350% in 2022. Bleacher Nation is Betsperts’ fourth acquisition in the last 18 months.
Industry influencers such as longtime investor and ex-FanDuel and Barstool exec David VanEgmond and board member Matthew Berry intersperse the Betsperts organization. It also benefits from celebrity and athlete investors like Kevin Durant, Chris Paul, Kyle Busch, Evan Longoria, and Darius Rucker.
Rooney stated on Wednesday that his firm will be profitable this year and that 2023-24 will prove:
exciting growth years for the business in revenue, profitability, and traffic.”
Key to that growth is Bleacher Nation, who’s coverage of Chicago’s major professional sports franchises, including the Chicago Bears, Chicago Bulls, and Chicago Cubs, since 2008 has secured it an extensive fanbase in Illinois and beyond.
Next steps
Author at Bleacher Nation and new vice president of strategic growth at Betsperts, Michael Cerami, spoke of a “shared vision for the future” that the sports content giant can reach with “the additional support and resources of Betsperts.” He added:
We are confident our readers are going to love what comes next.”
Rooney confirmed on Wednesday that Betsperts has already closed on its first $3m for a Series A2 raise. He added that Besperts was “excited to finalize the rest of this raise in January or February and make sure we are executing our strategy moving forward.”
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