Sportradar files for IPO on NASDAQ

Sportradar has publicly filed a registration statement with the Securities and Exchange Commission (the SEC) for the proposed initial public offering of its ordinary shares. The number of shares to be offered and the price range for the offering have not yet been determined. Sportradar intends to list its common stock on the Nasdaq Global Select Market under the ticker symbol “SRAD.” The company aims to raise up to $100 million. J.P. Morgan, Morgan Stanley, Citi, UBS Investment Bank, BofA Securities, Deutsche Bank, Jefferies, and Canaccord Genuity are the joint bookrunners on the deal.

The net proceeds from the offering will be used for working capital to fund incremental growth and future acquisition of, or investment in, companies, technologies, products or assets that complement the business and other general corporate purposes.

St. Gallen based Sportrader, founded in 2001 by Carsten Koerl, is the leading global provider of sports betting and sports entertainment products and services and the number one provider of business-to-business (“B2B”) solutions to the global sports betting industry based on revenue. It provides mission-critical software, data and content via subscription and revenue share arrangements to betting operators, sports leagues, and media companies.

Phenomenal growth
For its 900+ sports betting operator customers, Sportradar covers over 750,000 events annually across 83 sports, including live data coverage of 600,000 events across 83 sports, including live data coverage of 600,000 events across 37 sports with over 1.2 billion live data points collected annually. In 2020, the company generated 3.7 billion live and pre-match odds changes, collected 1.9 billion betting tickets and processed 21 billion odds changes from betting operators.

In the US market, the company is the #1 provider of data to bookmakers, supplying sports data to over 85% of all bookmakers in the US. For its 150+ sports league partners, Sportradar provides access to over 900 sports betting operators and over 350 media companies to distribute their data and content globally. For its 350+ media customers, including traditional and digital leaders, the company provides products and services to help reach and engage sports fans across distribution channels. The company thus remains a trusted partner of more than 1,600 customers in over 120 countries. It is also an official partner of the National Basketball League (NBA), National Football League, National Hockey League (NHL), Major League Baseball (MLB), NASCAR, FIFA and UEFA.

The company’s revenue surged 42% to 272.1 million euros ($318.60 million) in the six months ended June 30, 2021, compared with 192 million euros for the same period last year. For the 12 months ended June 30, 2021, Sportradar booked $576 million in revenue. Sportradar employs more than 2,300 full time employees across 19 countries around the world.

Further details about Sportradar are presented in its regulatory filing with SEC.

(Press release/RAN)