Yahoo has confirmed its acquisition of Wagr, a peer-to-peer sports betting app with a focus on social and accessible gaming.
This move is expected to bolster and accelerate Yahoo Sports’ existing vision of creating and providing the most captivating fantasy and gaming products for users.
“The acquisition of Wagr is an exciting step in the development of the next generation of Yahoo Sports’ gaming portfolio,” said Jim Lanzone, CEO of Yahoo. “Wagr stands out for their innovative emphasis on community and social engagement in sports gaming, which aligns perfectly with the Yahoo award-winning fantasy platform that has brought tens of millions of fans together around their love of sports for over 20 years.”
Wagr is recognized as the first social sports betting operator to receive a license in the United States. The company boasts a wealth of experience in social mobile app development, user experience, and community-driven games.
“Yahoo Sports offers us a stage to build products that will reach millions of loyal fans that have connected over fantasy sports for decades,” said Mario Malavé, co-founder and CEO of Wagr.
Wagr has received substantial investments from distinguished organizations, individuals, and leading venture capital firms such as Seven Seven Six, which is led by Reddit co-founder Alexis Ohanian, Greycroft, Pear VC, the Kraft Group who own the New England Patriots and New England Revolution, Harris Blitzer Sports & Entertainment who own the Philadelphia 76ers and New Jersey Devils, and BITKRAFT Ventures.
Sports betting continues to grow and Wagr will be fully integrated into Yahoo Sports.
