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Daily fantasy sports game startup DraftKings buys rival DraftStreet

Above: DraftKings.com has daily fantasy sports competitions.

Image Credit: DraftKings

Daily fantasy sports game company DraftKings announced that it has acquired direct competitor DraftStreet today. Financial terms of the deal were not disclosed.

Both DraftKings and previously IAC-owned DraftStreet allow people to participate in daily fantasy sports competitions where they can win real cash prizes that range in value from pocket change to $1 million. The services offer fantasy competitions that primarily focus on baseball, football, basketball, and hockey.

With daily fantasy sports competition services increasing in popularity (as VentureBeat’s Dean Takahashi previously reported), the acquisition will more than double DraftKings’ total customer base, according to the company.

DraftKings stated that it will begin migrating DraftStreet’s broad range of fantasy sports competitions over to its own service starting today. Likewise, DraftStreet’s service is already offline and pointing to its new owner’s website.

Founded in 2011, the Boston-based DraftKings has raised $35.4 million in funding to date, while New York-based DraftStreet previously took in $3.1 million.

More information:

DraftKings is a US based skill games company, and all of our contests are operated 100% legally. We offer Daily and Weekly Fantasy Sports contests for cash prizes in all of the major sports: Weekly Fantasy Football, Daily Fantasy Baske... read more »

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1 comments
Simon Murphy
Simon Murphy

"DraftKings stated that it will begin migrating DraftStreet’s broad range of fantasy sports competitions over to its own service starting today.” Looks like they just shut the site down and did not migrate any DraftStreet services. Have a buddy that works there and he was under the impression that the site would remain open. Lots of upset Draftstreet employees: http://onforb.es/1jvtz9m