i3 Interactive Inc picks 51% stake in fantasy sports startup LivePools for $7.5mn
LivePools, a fantasy sports platform recently announced that online and mobile gaming company i3 Interactive Inc has picked up 51% stake in the startup for shares worth $7.5 mn. Fantasy sports startup LivePools offers a skill-based sports predictor platform to online gamers, and lets them earn real cash rewards based on their teams’ on-field performances.
LivePools said in a statement that this investment will further help accelerate the platform's commitment to grow and provide a holistic experience to its consumer in the current fantasy sports market in India. The startup claims that in the past two years, LivePools has grown to 1.5 mn registered users driven by marquee sporting events such as the ICC Cricket World Cup, IPL 2019, and the Ashes. It plans to extend its reach to over 10 mn users by 2022.
Commenting on the deal, investment management from i3 Interactive Inc said, "With India being one of largest and fastest growing online gaming markets in the world, we are very excited to partner with LivePools. When looking for an investment, our first priorities are the team and the technology. We found both in spades with Gaurav and Vickram, and the product they have built with LivePools. With a first-class team and an exciting product, we are planning on doubling down on investment to ensure our customers have the premier fantasy gaming experience India has to offer."