Sunday, January 17, 2021

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fuboTV: Acquires Balto Sports

  • fuboTV Inc., a sports-first live TV streaming platform, acquired Balto Sports, a company that develops tools for users to organize and play fantasy sports games
  • The acquisition marks fuboTV’s first move into the online sports wagering market, which expected to reach $155 B by 2024 according to Zion Market Research
  • The company also intends to leverage its own proprietary technology along with Balto’s contest automation software to launch a free to play gaming offering
  • Balto’s team will join fuboTV and will be instrumental in driving the company’s expansion into both free to play gaming and online sports wagering
  • Balto Sports is a Y Combinator company that develops tools for users to organize and play fantasy sports games
  • The company merged with FaceBank Group in April 2020 to create a digital entertainment company

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