Sports apparel, collectibles, trading cards and sports betting platform
Fanatics is Michael Rubin's licensed sports merchandise empire spanning three units: Commerce (apparel), Collectibles (Topps trading cards) and Betting & Gaming (sportsbook). Founded in 2011, the company hit $8.1B revenue in 2024 (+15% YoY) and was last valued at $31B in a December 2022 round led by Clearlake Capital.
Ecommerce📍 Jacksonville, FLFounded 2011
Current Valuation
$31B
as of 2024-Q4
DECACORN
QL Price
$22B
-29% vs last round
QuantLogix's current estimate for Fanatics, published 2026-10-08 — below the last disclosed round of $31B (2024-Q4).
Confidence
medium
Basis
secondary led
What backs this price
Last disclosed round
$31B
2024-Q4
weight 0.29
Secondary market print
$17B
2026-06-27
weight 0.54
How this price has held up
No round has priced for Fanatics since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-10-08 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Fanatics, 2026-10-08 (8b67950e0438a82b).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookrumored
Is Fanatics going public in 2027?
An IPO is rumored for 2027, with nothing filed. Fanatics remains private and the date is not the company's.
What is Fanatics' valuation in 2026?
Fanatics is valued at $31B as of 2024-Q4, set by its Secondary tender ($700M, Dec 2022). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Fanatics filed an S-1?
No public S-1 is on file for Fanatics as of 10/08/2026; the IPO is rumored.
Who are Fanatics' investors?
Fanatics' investors include SoftBank, Silver Lake, Clearlake Capital, MSD Partners, Fidelity.
How much has Fanatics raised?
Fanatics has raised $4.0B in total, most recently a Secondary tender of $700M in Dec 2022.
Is Fanatics publicly traded — can you buy Fanatics stock?
No. Fanatics is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Fanatics on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Michael Rubin
Founded
2011
HQ
Jacksonville, FL
Employees
20000+
Total Raised
$4.0B
Est. Revenue
$9.6B (2025)
Growth
~19% YoY (2024 revenue +15% to $8.1B, 2025 estimated ~$9.6B)
Last Round
Secondary tender — $700M (Dec 2022) · Lead: Clearlake Capital
IPO Status
rumored
Fundraising Status
Secondary tender · $700M · 3y 10mo ago
rumoredTotal raised $4.0B
Secondary Market
Implied price / share
$41.6
Last round price / share
$76.17
vs last round
-45.4%
Last round price vs secondary price
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Secondary tender
$700M
Dec 2022
Clearlake Capital
—
Talent Signal
Hiring trend
▼ Hiring downtrend
-14% vs 2026-08
Open roles
6
via careers page
Product-build share
0%
engineering, research, product, design
Trajectory
tightening
go-to-market push — Only 0% of open roles build product — hiring is concentrated in sales/marketing/ops (3 of 6 open roles are marketing).
Open roles trending down; no tracked executive churn.
Open roles by month
Open roles by function
■ product-building ■ go-to-market / G&A
Skip to Main ContentCollege Operation Hat Trick GearJordan Brand Shoes & Merchandise47 Brand Hats & ApparelVolume Sales[365-Day Returns](https://www.fanatics.com/returns-policy)
Counted from Fanatics's live job board as of 2026-09-15; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Founders & Key People
Michael Rubin
Investors
SoftBank · Silver Lake · Clearlake Capital · MSD Partners · Fidelity
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2024-Q4. Refreshed quarterly.