For a business that is only a few years old, daily fantasy sports has become a nearly ubiquitous presence. The leaders, FanDuel and DraftKings, have created a new advertising category, spending millions of dollars on TV commercials with no end in sight. Their names and logos are seen in stadiums and arenas thanks to their myriad sponsorship deals.
Yet they’re really just youthful start-ups, still raising money to build their war chests and beat each other silly for market supremacy, still looking for the best ways to lure fans to play their games.
“We’re a purpose-driven company,” Matt King, chief financial officer of FanDuel, said during a recent interview at the company’s offices in Manhattan.